Page 1 of 9 1 2 3 ... LastLast
Results 1 to 10 of 85

Thread: Tax question

  1. #1
    User LadyK's Avatar
    Join Date
    Oct 2013
    Posts
    1,759
    Thanks
    6,815
    Thanked 1,928 Times in 902 Posts

    Default Tax question

    Does Mturk send 1099 forms?

  2. Thanks: (1)
  3. #2
    Verified Leader

    Flora's Avatar
    Join Date
    Jul 2012
    Posts
    35,381
    Thanks
    27,718
    Thanked 53,843 Times in 22,320 Posts

    Default

    Quote Originally Posted by LadyK View Post
    Does Mturk send 1099 forms?
    No they don't. The total earnings for 2014 will appear in a day to few days on your dashboard. Those earnings is what you report.

  4. Thanks: (5)
  5. #3
    probably eating
    Monica's Avatar
    Join Date
    Jan 2014
    Location
    INDY
    Posts
    9,568
    Thanks
    32,017
    Thanked 22,424 Times in 7,227 Posts

    Default

    I've stickied this thread so we have a place designated for tax questions.


    If I wanted to kill myself, I would jump from your ego to your IQ.

  6. Thanks: (4)
  7. #4
    Member Tribune's Avatar
    Join Date
    Nov 2013
    Location
    Bay Area
    Posts
    1,390
    Thanks
    9,212
    Thanked 2,359 Times in 887 Posts

    Default



    Quote Originally Posted by Monica View Post
    I've stickied this thread so we have a place designated for tax questions.
    Thanks, Monica. I'll point to a couple 2013 threads[*] with current remarks.

    1. US residents are supposed to pay tax on any amount of AMT earnings.

    2. The law says you must report any self-employment income.
    If it's $400 or more, you must also file a Schedule SE with a Form 1040.
    This has nothing in particular to do with Forms 1099 you do or don't get.

    3. Amazon won't send a 1099 to anyone making less than $20,000 from turking.

    4. AMT income is "self-employment" income, not "other income."
    This is important.
    You have to pay both the worker and employer 'halves' of what amounts to Social Security tax, in addition to income tax (if any). Last year, I didn't have to pay "income tax," but still had to file a Form 1040 with Schedule SE to pay my self-employment tax.

    5. Your donation to a turking forum is tax-deductible as a business expense. (So is any equipment you buy which you use exclusively for turking). You probably can't deduct general Internet and computer expenses, or claim a "home office."

    6. Believe me (or any other well-meaning person) at your own peril.
    I keep telling people to consult a professional.
    One way to encourage that is not to answer followup questions on taxes. So I won't.



    Alpine, while well-intentioned, erred in assuring SSDI recipients that they can make more than $1000/month without consequence. (He's referring to what Social Security calls Substantial Gainful Employment). Social Security also has what's called a Trial Work Period for SSDI recipients, and it commences (automatically) at a lower amount (currently $780/month).

    However, Alpine is right when he says that SSI and SSDI are different animals.

    Being on disability (SSI or SSDI) does not confer a magical immunity to self-employment taxes. You must still file a 1040 with Schedule SE for income from turking.

    [*]
    report taxes; help me please
    Disability and Mturk
    Last edited by Tribune; 02-04-2015 at 06:11 PM. Reason: #2. correction, SE filing requirements
    "Turkopticon is not a truth machine.
    It is a context-adding machine."


  8. Thanks: (9)
  9. #5
    User pennywise's Avatar
    Join Date
    Jun 2014
    Posts
    5,665
    Thanks
    3,205
    Thanked 3,427 Times in 1,977 Posts

    Default

    everyone - if someone is claiming you as a dependent and you made less than $3950 you don't need to file taxes. (well if you'd get money back from something and you want it you need to file)

    The tax person at H&R block told the person who claimed me that. ^^
    Razors pain you; Rivers are damp; Acids stain you; And drugs cause cramp. Guns arenít lawful; Nooses give; Gas smells awful; You might as well live.

  10. Thanks: (3)
  11. #6
    User bobbie01's Avatar
    Join Date
    Jan 2013
    Posts
    11,106
    Thanks
    5,690
    Thanked 9,655 Times in 5,227 Posts

    Default

    Like Tribune said, please make sure you get information from a certified tax preparer or the IRS website. Everyone's situation/deductions are different so different rules might apply to similar situations.

  12. Thanks: (2)
  13. #7
    User CrystalClear's Avatar
    Join Date
    Feb 2014
    Location
    Los Angeles, California
    Posts
    301
    Thanks
    324
    Thanked 351 Times in 153 Posts

    Default

    I was reading the posts about taxes from the HIT thread earlier and I have a question. So, if supposedly, I'm required to report all earnings from AMT, does that mean that if I made well below $400 turking last year, then I'm still required to file it? I'm confused.
    "To the world, you may be one person. But to one person, you may be the world." ~Brandi Snyder
    Avatar artwork created by me

  14. Thanks: (1)
  15. #8
    probably eating
    Monica's Avatar
    Join Date
    Jan 2014
    Location
    INDY
    Posts
    9,568
    Thanks
    32,017
    Thanked 22,424 Times in 7,227 Posts

    Default

    Quote Originally Posted by CrystalClear View Post
    I was reading the posts about taxes from the HIT thread earlier and I have a question. So, if supposedly, I'm required to report all earnings from AMT, does that mean that if I made well below $400 turking last year, then I'm still required to file it? I'm confused.
    From what I gathered from Tribune's post:

    Quote Originally Posted by Tribune View Post
    1. US residents are supposed to pay tax on any amount of AMT earnings.

    2. The law says you must report any self-employment income.
    If it's $400 or more, you must also file a Schedule SE with a Form 1040.
    This has nothing in particular to do with Forms 1099 you do or don't get.
    So, regardless of how much you've made you're required to document that on your tax return - however, if you make more than $400 than you're required to submit a Schedule SE with a Form 1040 as well. So file your last year's earnings as self-employment earnings, and only if you earn more than $400 would you have to also file a Schedule SE in addition to filing self-employment earnings.


    If I wanted to kill myself, I would jump from your ego to your IQ.

  16. #9
    Verified Leader

    Flora's Avatar
    Join Date
    Jul 2012
    Posts
    35,381
    Thanks
    27,718
    Thanked 53,843 Times in 22,320 Posts

    Default

    I found this article informative since we are considered self-employed.

    Most-Overlooked Tax Breaks for the Self-Employed

    http://www.dailyfinance.com/2015/01/...self-employed/

  17. Thanks: (2)
  18. #10
    User CrystalClear's Avatar
    Join Date
    Feb 2014
    Location
    Los Angeles, California
    Posts
    301
    Thanks
    324
    Thanked 351 Times in 153 Posts

    Default

    Quote Originally Posted by Monica View Post
    So, regardless of how much you've made you're required to document that on your tax return - however, if you make more than $400 than you're required to submit a Schedule SE with a Form 1040 as well. So file your last year's earnings as self-employment earnings, and only if you earn more than $400 would you have to also file a Schedule SE in addition to filing self-employment earnings.
    Okay, so let me see if I have this right. I made about $225 from turking last year and did not work as an employee (day job) for any other income. So, I should still file a regular Form 1040 for just the $225 as self-employment income? Is that right? Because last year, I didn't think I had to formally report anything under $400 and my dad was still planning on claiming me as a dependent on his taxes this year. Does that $225 I made invalidate the dependent option for my dad?
    "To the world, you may be one person. But to one person, you may be the world." ~Brandi Snyder
    Avatar artwork created by me

Page 1 of 9 1 2 3 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •