Hi everyone, i got a referral bonus of 500$ from my leasing office for referring a tenant do i need to pay tax for that?

Yes, you do. It is fully reportable and taxable.

how much i need to pay? 30% tax?

i saw in our tt forum that we dont want to report if the income falls less then 600$

Not true. They do not need tio send you a 1099-MISC unless it's at least $600. However, you must still declare it.  The tax rate depends upon your overall total taxable income.

You can report it as other income on Form 1040 line 21. Here's how to enter it in TurboTax.

·         Click the Federal Taxes tab ( Personal in the Home & Business version)

·         Click Wages & Income. (Personal income in the H & B version)

·         Click "I'll choose what I work on."

·         On the screen "Your 2015 Income Summary," scroll all the way down to the last section, "Less Common Income."

·         Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."

·         On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."

·         The next screen asks, "Did you receive any other taxable income." Click Yes.

·         On the next screen, "Other Taxable Income," enter a description and the amount. Click Continue.

·         On the next screen click Done.

The income will be reported on Form 1040 line 21 with the description that you entered.