@Opus 17
Would this basically be treating/characterizing the $200 as if it were on a 1099-MISC in Box 3 “other income”? Would it be acceptable to treat it as such when doing any tax calculations?
Thanks.
link
“Other Types of Box 3 Income
Box 3 isn’t limited to auto salespersons, although they often reap the benefit of having some of their incomes reported there. "Other Income" reported in box 3 also includes any sources that don't fit neatly anywhere else on the form. They might be:
-Prizes and awards
-Payment you received for serving jury duty
-Taxable damages received in a lawsuit
This list is not exhaustive. Basically, box 3 reports any income you receive from an endeavor that you didn’t engage in for profit, and that’s admittedly a gray area. Automotive salespersons certainly work to earn a living, but they work for and are under the control of the dealership, not the manufacturer directly, and therein lies the loophole.”
