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If i have a direct sales business but made less than $500 in commission so I was not sent a W-2. Do I still need to claim on my taxes?
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If i have a direct sales business but made less than $500 in commission so I was not sent a W-2. Do I still need to claim on my taxes?
Yes, if you have a business, you should receive a 1099-Misc reporting non-employee compensation; however if the compensation is less than $600.00, the payer is not required to send you that form. You still need to claim the income. The IRS requires that ALL income be reported.
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If i have a direct sales business but made less than $500 in commission so I was not sent a W-2. Do I still need to claim on my taxes?
I have the same question. How do you report it? As hobby income? As other earned income?
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If i have a direct sales business but made less than $500 in commission so I was not sent a W-2. Do I still need to claim on my taxes?
Report commissions as self-employment income.
For entry information, please see the TurboTax Help article How do I report income from self-employment?.
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