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1099 NEC and gift cards
I work as an insurance agent and received over $600 in gfit cards as part of an incentive from one company. I understand this has to be reported. Do I put the work description as insurance services, or gift cards? It asks if I started or stopped in 2021... how do I answer that? I only received gift cards during 2021 as this was the incentive period which ended 12/31/21... but I began insurance many years ago. It also asks was an active particpant, how do I answer that?
What was a great incentive just turned very complicated.
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‎February 7, 2022
6:29 AM