Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   W-9 Form (https://www.askmehelpdesk.com/showthread.php?t=176520)

  • Jan 25, 2008, 10:00 AM
    brianbell25
    W-9 Form
    I played some online games in the past year and since my net winnings for the year exceeded $600 I had to fill out a W-9 form online. I intend to do my income taxes online like I have for the last couple of years, but am unsure of what I would have to in regards to the W-9. Any help on the matter would be appreciated.
  • Jan 25, 2008, 11:58 AM
    AtlantaTaxExpert
    The W-9will cause the on-line company to generate a Form 1099-MISC for you. The money will be listed in one of TWO blocks.

    If it is listed in Block #3 (Other Income), you can list the winnings on Line #21 of Form 1040.

    If it is listed in Block #7 (Nonemployee Compensation), then the money is considered self-employment income and you will need to file Schedule C and perhaps Schedule SE.

    In either case, you should be able to file your return on-line with no problem.

  • All times are GMT -7. The time now is 12:42 AM.