tax_info_seeker
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Sorry, this new question is along the same lines but more focused. Since the earlier question was worded differently and I got so many responses, I figured I wo...
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I believe, there should be a mechanism whereby "gift money transactions" less than $16,000 per recipient per year are also "labeled at source" as "gift" in orde...
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But how will IRS find out if any product or service was provided in return for money received without auditing the recipient if they don't report it on their ta...
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By self employed, I was referring to people like house painters, when we pay them, for example, $1500, we don't make a 1099 for it, so what if they try to evade...
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Of course, the name of the person will be on the personal check or Zelle payment, so easier to keep track of the source? That's what I meant?
Activity Feed for tax_info_seeker987
- Cheered Re: How irs can tell if money received is income or gift? for TomD8. July 15, 2022 11:38 AM
- Cheered Re: Gift question for Anonymous_. July 15, 2022 11:31 AM
- Cheered Re: Gift question for Mike9241. July 15, 2022 11:31 AM
- Posted Re: Gift question on Get your taxes done using TurboTax. July 15, 2022 9:54 AM
- Posted Gift question on Get your taxes done using TurboTax. July 15, 2022 9:22 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 8:43 AM
- Cheered Re: How irs can tell if money received is income or gift? for TomD8. July 15, 2022 8:37 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 8:10 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 7:46 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 7:43 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 7:11 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 7:08 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 6:59 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 6:55 AM
- Posted Re: How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 6:53 AM
- Posted How irs can tell if money received is income or gift? on Get your taxes done using TurboTax. July 15, 2022 6:48 AM