Do I have to report income if I don’t get a 1099?

Amazon
jfjwhduck

Go to company page Amazon

jfjwhduck
Jan 27 3 Comments

I have so many different bank/investment accounts where I may get a little bit of interest, dividends, rewards. However if the rewards are <$600 for the year, the company does not send a 1099. This puts the burden on the taxpayer to figure out and report all of this income.

Thoughts?

TC 350K

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TOP 3 Comments
  • You should ask Wesley Snipes or Lauryn Hill what they think.
    Jan 27 0
  • LinQuest / Eng
    w1442

    Go to company page LinQuest Eng

    w1442
    If you get audited you'll be out way more time and money than if you just report your income accurately and honestly
    Jan 27 0
  • New
    enBT65

    New

    enBT65
    Only do the large accounts.

    I’ve forgotten to do a few accounts now and again. The IRS doesn’t bother.

    I missed a big account once and they sent me a letter 2 years later saying, you owe $700 in unpaid taxes plus $50 is interest plus $50 in fees. No big deal.
    Jan 27 0