Hello,
Here is my situation:
We are family of seven. My wife is a house wife or unemployed taking care of 5 kids ranging between ages 8 through 17. I have been unemployed since Feb 2020 due to pandemic. SO me and my wife began doing surveys online in our free time. I have made $ 3500 on Swagbucks in paypal which got deposited to my dads PayPal account. Similarly, my wife did surveys on Qmee and made $1700 and had the money deposited to dad's PayPal as well. We used dads PayPal because I was trying to pay him back since we live in his house so the money went directly to him.
So I am in a unique situation.
So here is my situation or question: Since the money went to my dads paypal account should he file taxes on it keep in mind that Paypal does not issue 1099 unless it is more than $20, 000 or 200 transactions or something. -Or- Should I file taxes on it since the money is generated by us using our accounts.
If I file I know I have to use schedule C to report and pay taxes and everything on it and also if I file since I have kids I will be getting child tax credits so I probably end up getting a refund instead of paying.
Thanks in advance for anyone helping me with this!
Aneel
