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jaspaulding
Returning Member

Money from rebates and surveys

My question is about payments from taking paid surveys and rebates for products purchased. Both the survey and rebate payments go through a PayPal account. If this amount is under $600, is it taxable? If the amount is more than $600, is that taxable? Do you need a 1099-K to report this income? 

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1 Reply

Money from rebates and surveys

Hello,

 

All income you make from the rebates and surveys need to be reported on your tax return. If you make over $600 then the entity paying you will issue you a 1099-k,1099-misc or 1099-nec.

 

This sounds like hobby income and would be reported on you return as other income.

It could also be considered self employed income if you meet all the IRS criteria.

 

Here is a link about hobby income versus self employed income https://turbotax.intuit.com/tax-tips/small-business-taxes/when-the-irs-classifies-your-business-as-a...

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