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Where should the bonus payment be reported on my Tax Return?

April 26, 2017Bonus payment reported tax return

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Where should the bonus payment be reported on my Tax Return?

1 Answer

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• If your payment is less than $600, you will not receive a 1099. • If your payment (or the combination of payments made to you by any one entity for several Oil and Gas Leases) amounts to more than $600, you will receive a 1099 for the year that the check is dated and will need to report same as miscellaneous income within your Tax Return.