I Think I Made A Huge Mistake Joining Amazon Vine!

[rosetanner]

I think I made a huge mistake joining Amazon Vine! I was sent an invitation from Amazon asking me to join the Vine program because they liked how I write reviews for products I purchased with Amazon. I was told initially that I can order unlimited products from different sellers and all I had to do is to honestly review the products. They also said as long as I did not sell any of the products I recieve I would never have to pay anything. Then I was like a kid in a candy store and went overboard and ordered so many things but I kept up my end of the so called bargain and I wrote reviews for every product. Plus I kept every thing I ordered and I never sold anything and  I never planned on ever selling any of the products and I never will sell any of the products I recieved. Then I was just notified I have to pay tax on everything I got. I was told when I signed up all I had to do was to review the products honestly and I got to keep everything, and keep it all for free. Now I have to pay taxes....I have been so upset that I have literally gotten myself sick over this. If I knew this was going to happen I would have never done it and I think I got about almost 15 thousand in merchandise but everything I got was to fix up my house and to get things myself and my family could not afford all these years. There is no way I can afford to pay all of those taxes so would I be able to possible make monthly payments. I knew this was too good to be true and I realize I am an idiot that made a huge mistake....so tax wise what do I need to do? I am 67 years old and I have not had to file a tax form in decades so I am lost here. Thank you in advance.

[taxlady28]

Sorry you misunderstood the program.  What you received is considered income and is taxable.  After you compute your taxes owed, you can apply for a IRS installment plan the owed taxes.  

[rosetanner]

Thank you so much for your advice!

[rosetanner]

Thank you, I appreciate your help.

[fanfare]

If your amount is under $20,000 you may not be getting a 1099-K for 2024.

It depends on Amazon policy.

See here:

https://www.irs.gov/newsroom/irs-never-mind-the-myths-know-the-facts-about-receiving-a-form-1099-k-i...

@rosetanner 

[rosetanner]

Thank you so much, I appreciate the help...

[rosetanner]

I tried to go to the link you sent but for some reason it says page not found.  That would be a huge relief if Amazon didnt send me the 1099 form, i think thats the form...anyway again thanks for getting back with me.

[VolvoGirl]

Try this link

https://www.irs.gov/newsroom/irs-never-mind-the-myths-know-the-facts-about-receiving-a-form-1099-k-i... 

[rosetanner]

ok, thank you!

[rosetanner]

It worked! Thank you so much it reallt helps me to understand this situation. Again thanks! I really appreciate it!

[ForeverGrateful]

Hi;

Just to provide some information, I'm like Rose and am brand new to Vine and just received a non-official 1099-NEC (not a 1099-K) with box 1 completed.  

[VolvoGirl]

What is a “non official”. 1099NEC?  If you got a 1099NEC the IRS also got it.

[ForeverGrateful]

Following is just a very small portion of the email I received: ***DISCLAIMER: TAX STATEMENT ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THIS TAX STATEMENT IS NOT AN OFFICIAL IRS FORM, AND WILL NOT BE FILED WITH THE IRS. IT IS INTENDED TO PROVIDE YOU DETAILS ON YOUR YEAR-TO-DATE REPORTABLE TRANSACTIONS BUT MAY NOT CONTAIN ALL RECENT REPORTABLE TRANSACTIONS.

You follow the link in the email and can print out the 'non-official' form1099-NEC  (it has a watermark across it that says it is not an official form) ....basically it's just giving you a heads up of what you have received so far "year-to-date"

[Opus 17]

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@ForeverGrateful wrote:

Following is just a very small portion of the email I received: ***DISCLAIMER: TAX STATEMENT ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THIS TAX STATEMENT IS NOT AN OFFICIAL IRS FORM, AND WILL NOT BE FILED WITH THE IRS. IT IS INTENDED TO PROVIDE YOU DETAILS ON YOUR YEAR-TO-DATE REPORTABLE TRANSACTIONS BUT MAY NOT CONTAIN ALL RECENT REPORTABLE TRANSACTIONS.

You follow the link in the email and can print out the 'non-official' form1099-NEC  (it has a watermark across it that says it is not an official form) ....basically it's just giving you a heads up of what you have received so far "year-to-date"

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That is acceptable as long as the value of free products is less than $600.  If the value of free products is more than $600, they are probably required to issue a 1099-MISC or a 1099-NEC.  Also, if your statement is available mid-year, it would not be official.  An official 1099 would be filed between January 1 and January 31 of the following year.  

If they don't issue 1099s in January even for amounts over $600, I would be interested in reading about their logic.