Quote:
Originally Posted by Nookster
Depends all on how much you've made (income) from said sponsors. Only a single sponsor who you've made more than the minimum taxable amount will send you back the forms you will use to deduct your taxes from...otherwise you kinda don't have to report any if that doesn't happen. But don't take my word for it i'm no professional when it comes to taxes and such. I just have "my people" and attorney look things over. Hope that helps.
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You're people are retards. You must report ALL income. Just because a sponsor doesn't send you a 1099 doesn't mean you don't have to report that income.The $600 minimum for 1099s is for the sponsor not the taxpayer. That way they don't have to end out 1000 1099s for people who only earn $25. Legally if you make more than $400 a year TOTAL from self employment you must report ALL income.
Jeez I seriously wonder about the people here and their serious lack of knowledge of our tax code. I see a lot of audits in the future some of the retards here.