Comments on: Do I Need to Report This Income? Part 1 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: rbb546 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-132279 rbb546 Wed, 09 Jan 2008 18:13:43 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-132279 I recieve unemployment and i just started getting disability pay from the military do i have to tell them that i am recieving disability I recieve unemployment and i just started getting disability pay from the military do i have to tell them that i am recieving disability

]]> By: Savvy Steward » Check Out The Carnival of Personal Finance #82: Superheroes Edition http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-91381 Savvy Steward » Check Out The Carnival of Personal Finance #82: Superheroes Edition Wed, 11 Apr 2007 00:11:22 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-91381 [...] Finance Taking Control Over Money shows How to Reduce the Monthlies Consumerism Commentary asks Do I Need to Report This Income? This entry was posted on Monday, January 8th, 2007 at 8:34 am and is filed under Carnivals. You [...] [...] Finance Taking Control Over Money shows How to Reduce the Monthlies Consumerism Commentary asks Do I Need to Report This Income? This entry was posted on Monday, January 8th, 2007 at 8:34 am and is filed under Carnivals. You [...]

]]> By: SaraNDipiddy http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-84686 SaraNDipiddy Tue, 20 Feb 2007 20:42:39 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-84686 Do monetary and non-monetary gifts from friends or family have to be claimed??? Do monetary and non-monetary gifts from friends or family have to be claimed???

]]> By: dimes http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-77319 dimes Wed, 10 Jan 2007 04:53:04 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-77319 I really hate declaring prizes as income, which is why I would never go on "The Price is Right." If you win the ugly spa or the jukebox or the motor home, you still have to enter it on line 21. Blah. I really hate declaring prizes as income, which is why I would never go on “The Price is Right.” If you win the ugly spa or the jukebox or the motor home, you still have to enter it on line 21. Blah.

]]> By: Free Money Finance http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76861 Free Money Finance Fri, 05 Jan 2007 11:22:31 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76861 Star Money Articles for the Week of Jan. 1... Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: Blueprint for Financial Prosperity is approaching $200,000 in net worth. Consumerism Commentary answers basic questions about income and taxes. AllFinancialMatt... Star Money Articles for the Week of Jan. 1…

Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: Blueprint for Financial Prosperity is approaching $200,000 in net worth. Consumerism Commentary answers basic questions about income and taxes. AllFinancialMatt…

]]> By: Lazy Man and Money http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76779 Lazy Man and Money Thu, 04 Jan 2007 17:59:34 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76779 I think the threshold is $10,000 for casino gambling. I'm not sure about any other kinds... not that I have any experience with the casino winnings. I think if you were to keep track of your winnings and losings at a casino you could balance that $50 with $50 of losses (provided that you lose $50). I think the threshold is $10,000 for casino gambling. I’m not sure about any other kinds… not that I have any experience with the casino winnings.

I think if you were to keep track of your winnings and losings at a casino you could balance that $50 with $50 of losses (provided that you lose $50).

]]> By: Golbguru http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76778 Golbguru Thu, 04 Jan 2007 17:29:43 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76778 About the gambling thing. Isn't there some threshold of $500 or something and you need to report winnings above that amount? If I remember, most casinos will ask for your SSN above that amount and will report it to IRS. Just being a devil's advocate...if you win like 50 bucks on a slot machine, no one is going to report it to IRS. In that case who cares if you report it in your tax forms or not. It will boil down to individual honesty. About the gambling thing. Isn’t there some threshold of $500 or something and you need to report winnings above that amount? If I remember, most casinos will ask for your SSN above that amount and will report it to IRS.

Just being a devil’s advocate…if you win like 50 bucks on a slot machine, no one is going to report it to IRS. In that case who cares if you report it in your tax forms or not. It will boil down to individual honesty.

]]> By: Kurt http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76769 Kurt Thu, 04 Jan 2007 15:20:37 +0000 http://www.consumerismcommentary.com/2007/01/04/do-i-need-to-report-this-income-part-1/#comment-76769 I usually don't like silly posts, but this one was just silly enough to be entertaining. Bravo. I usually don’t like silly posts, but this one was just silly enough to be entertaining. Bravo.

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