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josorio84
Level 1

Multiple Venmo transactions

I received 4, $300, Venmo transactions from my mothers boss for the 4 weeks she was out with Covid. When she returned back to work I went ahead and refunded the money back via Venmo and he paid her cash. I might add that he reports what he pays her and sends her a W-2 form so she can file taxes. My question is, how will these transactions affect me when filling my taxes next year?

1 Reply
Donna F 77
Employee Tax Expert

Multiple Venmo transactions

Technically these transactions should not affect your tax return at all.  If you refunded the payments, there shouldn't be a tax form for them.  By chance, did he mark the payments as Goods & Services?  If you do get a tax form at year end for these transactions we can help you to show it properly on your tax return so that you are not paying tax on funds that you did not receive.

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