I am on ssi and I recieve prepaid visa cards for doing surveys. I'm confused about something. The survey company said that they don't provide a 1099 but where ever I cashout is where I'll get one from. I use them online I don't get cash through PayPal or venmo or anything. They also said I don't need to report under 600 in income from them. Is the IRS notified by someone or are these cards tracked in anyway. I was unsure about all of this but with the new laws I'm kinda worried about having extra income. Basically I'm asking will the irs know about this money if I don't report it? I don't file taxes either. Thank you.
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No matter how you choose to redeem the cards, this is income. The survey compnay is incorrect regarding the $600 rule. You must report all your income. They don't have to issue a reporting form if the amount is less than $600.
The purpose behind getting the income determines how it is reported. If this is a hobby, report it as other income. If you look at his as a job, you must report earnings of $400 or more on Schedule C. Otherwise, it is still hobby income.
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