NIUTECH - THEUSEFUL.COM Reported free gift as other income IRS 1099-MISC, ripoff Boca Raton Florida
I was to believe after completing the neccessary requirements for the gift, I would be sent a 1099 statement but only for the taxable amount of the gift. The form I signed stated for gifts over $600.00. The laptop sent to me I'm sure is not over $600.00 yet a cost of $750.00 was reported on the 1099MISC as other income.
Had I know the cost of the laptop would be inflated and that it would be counted as other income, I could have purchased a better laptop for less.
Hylton
Leavenworth, Kansas
U.S.A.