Gifts received in exchange of reviews are taxable. If you had no profit motive, this could be considered as hobby income and is reported as Other reportable income. There is no threshold under which this income is not taxable.
You need to report
the fair market value of the gifts as Other Reportable Income.
In TurboTax, open
your return and follow these steps:
- Click on Federal
Taxes, then on Wages and
Income
- Under All Income, locate the Less Common
Income section
- Click Show more and click Start next to Miscellaneous
Income at the
bottom
- On the next page, click Start next to Other
Reportable Income
(see attached screenshot).
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