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Personal Finance (Not Investing) • Re: IRS W-9 for 'Referral' Discount a Typical or Normal Practice?

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If they issue a 1099, it is earned income. A 1099 is issued at $600 or more.
That is not so. I get 1099's every year from banks and credit unions (and Vanguard). None of this 1099 income is "earned income" or, more exactly, "taxable compensation". The IRS's own description of taxable compensation is "wages, salaries, commissions, tips, bonuses, or net income from self-employment."

Is what the OP describes a "commission"? I'm not sure, but just because a 1099 is issued doesn't provide information on this.
1099 has versions. This would be a 1099-NEC or - MISC and is earned income.

Statistics: Posted by RickBoglehead — Thu Sep 19, 2024 10:53 pm



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