A NEW INCOME

A New Income Q&A

Q: I won a new 4x4 and sold it, do i need to declare the money i got as "additional income"? i didnt give receipt

re: filing for IRS

A: Yes. You should receive a form 1099-MISC or W-2G (proceeds from gaming) for miscellaneous income for the value of the truck you won. Anything worth $600 or more will get you a 1099. This might help: http://www.irs.gov/newsroom/article/0,,id=108277,00.html

A New Income Q&A A New Income