Trivial Pursuit Winnings & Taxes

[chad1m]

[quote name=\'bellbm\' post=\'207497\' date=\'Feb 3 2009, 07:54 PM\']
Well, I received my 1099 today from WSP Enterprises.  It was an aggregate amount.[/quote]Yep. Got mine for my five checks sent in 2008.

[Loogaroo]

So, just to be clear: if you won less than $600, do you have to declare it?

[Matt Ottinger]

[quote name=\'Loogaroo\' post=\'207501\' date=\'Feb 3 2009, 09:00 PM\']
So, just to be clear: if you won less than $600, do you have to declare it?[/quote]
Strictly speaking, all good little boys and girls should tell Uncle Sam about any income they received from any source.  Cash tips, Ebay sales, panhandling, whatever.  However, if you won less than $600, it isn't going to be reported to the IRS, so you're reasonably safe in excluding it from your returns.  

EDIT: Actually, after a little further checking, it appears that even Uncle Sam lets you skate on anything under $600.  So no, you do not have to declare it.