Pinecone & Taxes

[scfr]

Does Pinecone send a year-end statement showing how much total compensation you received? Or will I need to keep track of how much I receive (to declare it as misc. income)?

[poundwise]

I believe Pinecone will only report the earnings and provide you with a 1099 once you have earned at least $600 in a year. Otherwise, you'll need to keep track of it yourself.

[safari]

If Pinecone didn't ask for your Social Security number, then they won't be reporting your income to IRS. If we're talking about small amounts, I wouldn't bother to declare that income, but theoretically you have to report it on your tax return, even though IRS will never know about it if you don't declare it.

[GoodBuyGirl]

Uncle George gets enough money off of oil. Shhhh! don't tell him about your Pinecone.

[Aleta]

It's such a gray area. I'm glad that that particular question came up. I wonder though if you did make over $500 or $600 a year if they would ask for your social/sec? Also, that's not the only survey company one might work for. If you added all of your money up from all of the survey companies, you might be surprized. Even though, I will take out the cash money for my monthly expenses: I often put some back between coupons, found money, saved change, or whatever comes up. So, that could look like extra income too although it's not. It's really like a rebate. Same thing goes for the credit card rewards. What do you do about that? That would look like income too although I don't how specific the rules are about that stuff. Thanks for the question. Maybe someone here with the knowledge can answer it .

[GoodBuyGirl]

I don't know the rules on earned wages but I do know that the casinos will give you a tax form to fill out if you win $2,000 or more.