Hi, I am a member of a website that sells trading software. They opened a forum and am offering a voucher if you join and post on the forum that can only be used to purchase products on their website. So. I need to know if this voucher is taxable income. Thank you.
You'll need to sign in or create an account to connect with an expert.
it's not the voucher, it's what's contributed that would represent taxable revenue.
Based on this additional info, it depends. If the voucher is an award, then it's likely taxable. You can use the IRS interactive guide, Is the prize or award I received taxable? for more help.
However, you could also argue that since this voucher can only be used to buy products on the company's website, then it's a rebate or a discount and thus not taxable.
If you are a paid member of the web site, this would count as a discount or rebate and not be taxable.
If you are not a paid member, and this voucher is a reward or payment for providing a service (creating content on their forum), then it is probably income earned from working and should be reported as taxable income. (that is, the value of the voucher in USD based on what you could buy with it).
Barter is taxable income if received in return for goods or services.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
bilmarmur
New Member
bnsmit0
Level 2
tpgrogan
Level 1
CRAM5
Level 1
edmarqu
Returning Member