Do you pay taxes on the referrals?

[goldilocks_63]

When you get a referral -

I took the decrease in dues....

Do you pay taxes on this?

Getting my stuff together....

GOldi

 

[ariel & eric]

We don't get the referral "bonus" here in Michigan. Wish we did. I'd love to know what others get.

 

[abeyst]

We don't get the referral "bonus" here in Michigan. Wish we did. I'd love to know what others get.

I know - it sucks!!

You should have received a 1099 by 2/1 if they reported that money to the IRS.

 

[rogerram]

When you get a referral -

I took the decrease in dues....

Do you pay taxes on this?

Getting my stuff together....

GOldi

If you make over a certain amount, it is taxable. I'm not sure how much it is though. It is considered income.

 

[tjkraz]

ANY amount in referral rewards earned is considered taxable income, but DVC is only required to send a 1099 if the amount paid is over $600.

Just to correct one of "abeyst", statements, tax forms like 1099s need to be postmarked by 1/31. Allow a week or so for them to make their way thru the postal system.

If you don't receive a 1099 but believe you should have, it's wise to contact the vendor. DVC will submit copies of all 1099s issued with the IRS. If DVC reports at 1099 sent to you and you don't claim the income on your taxes (perhaps because the 1099 was lost in the mail) it will raise an audit flag.