Are these considered taxable income?


Y

YNot

I'm filing my returns and have couple of questions, thought
you experts may be able to help me figure out.

During 2004, a marketing survey company conducted couple of
surveys with me, and they sent me "honorarium" of $300 in
total for my time. I'm not getting any tax docs from them,
should I claim these as income, what does this fall under?

My wife in 2004 also got a payment of $200 for participating
as a vendor at an event hosting by a company that is not her
employer. Should we claim this as part of our income? if
yes, what category does it fall under?

Another related question, I've been getting refunds from CA,
just got a form 1099-G from them documenting how much income
tax refund I got from the CA franchise tax board last year.
It says in the instruction "The refund amount in Box 2 need
to be reported on your Federal Income Tax Return if you
claimed state income tax payments as an itemized deduction
on Schedule A of your Federal Income Tax Return and received
a refund from your California State Income Tax Return" I
knew that I'll get refunds in years past, and never claimed
state income tax payments in Schedule A. Does that mean I
can safely ignore the 1099-G?

Thank you very much.
 
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M

mytax

First set of questions, The income goes on line 21 (other
income) on Form 1040.

Second question, if you did not itemize the previous year,
you do not claim the refund the following year. (You did
not take if off and you do not add it back).

Missy Doyle
 
M

Mike Lewis

YNot said:
I'm filing my returns and have couple of questions, thought
you experts may be able to help me figure out.

During 2004, a marketing survey company conducted couple of
surveys with me, and they sent me "honorarium" of $300 in
total for my time. I'm not getting any tax docs from them,
should I claim these as income, what does this fall under?
OTHER Income, subject to SE tax.
My wife in 2004 also got a payment of $200 for participating
as a vendor at an event hosting by a company that is not her
employer. Should we claim this as part of our income? if
yes, what category does it fall under?
Same as above.
Another related question, I've been getting refunds from CA,
just got a form 1099-G from them documenting how much income
tax refund I got from the CA franchise tax board last year.
It says in the instruction "The refund amount in Box 2 need
to be reported on your Federal Income Tax Return if you
claimed state income tax payments as an itemized deduction
on Schedule A of your Federal Income Tax Return and received
a refund from your California State Income Tax Return" I
knew that I'll get refunds in years past, and never claimed
state income tax payments in Schedule A. Does that mean I
can safely ignore the 1099-G?
If you didn't deduct in prior year as itemized deduction,
ignore it.

Mike Lewis, CPA
 
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H

Harlan Lunsford

OTHER Income, subject to SE tax.
Same as above.
Oh MIke, I can't let this go without chiming in. In neither
case as he described it, can these one time, random,
irregular, non recurring, activities be classified as
subject to SE tax.

ChEAr$,
Harlan Lunsford, EA n LA
1 Apr 2005
 

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