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Re: $600 dollar financial transactions
[Re: Deadwood]
#3478934
09/03/21 02:33 PM
09/03/21 02:33 PM
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Joined: Jun 2014
Posts: 4,803 Jasper Al
eclipse829
12 point
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12 point
Joined: Jun 2014
Posts: 4,803
Jasper Al
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Not sure about the reason why, but ALL lottery winnings over $600 must be paid out or at least processed (if you mail your proof of winning in) by the lottery headquarters.
Every winner over $600 causes a 1099 to be generated for your extra earned income.
It’s been that way for 30 some years.
Not sure if this is relatable to the OP. That's kind of the way I read it. It doesnt really change the rules, it simply encompasses a lot of these new jobs that the pandemic has created such as door dash and such. I recieve multiple 1099's each year from vendors that offer rewards for selling certain items. Any time I earn $600 or more in a year, i get a 1099.
Killing my neighbors deer since 1982
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