It depends. There is no clear IRS precedence that addresses this type on income. Therefore as a credentialed agent, I would advise to report it as income.to take a conservative approach to the issue. If you don't report it, it may reappear in the form of an IRS audit and since there is no clear precedence for this type of income, the IRS will deny your claim unless you can prove convincingly that they are wrong. You may end up in tax court as a result and create more headaches for yourself than you can ever imagine.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
