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I received $500 for editing I did informally for an acquaintance. There was no 1099 or contract. I have been told that I need not report this amount. Is this accurate?

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JohnW15
Intuit Alumni

I received $500 for editing I did informally for an acquaintance. There was no 1099 or contract. I have been told that I need not report this amount. Is this accurate?

Generally, all income is taxable unless specifically excepted under the tax code.  The income you describe wouldn't appear to fit any known exception, as far as taxability is concerned.

Long story short, it should be reported on your return.

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JohnW15
Intuit Alumni

I received $500 for editing I did informally for an acquaintance. There was no 1099 or contract. I have been told that I need not report this amount. Is this accurate?

Generally, all income is taxable unless specifically excepted under the tax code.  The income you describe wouldn't appear to fit any known exception, as far as taxability is concerned.

Long story short, it should be reported on your return.

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