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View Full Version : Trip Taken, no W-2 Form Sent, What to do


Seredni
February 4th, 2006, 7:34pm
The avr was 3500, should we just claim it even though we didn't receive a W-2 from company?

jjarvis
February 4th, 2006, 7:44pm
The company should send you a 1099-MISC. I would give them another couple of weeks. The company has until the end of this month to transmit it to the IRS, even though it should have already been mailed to you. In the long run, they could send it into the IRS late. I would report it under line 21 on form 1040 just in case you are audited. :sherlock: I am still waiting for a 1099-R from the federal government!

Kathleenob
February 4th, 2006, 7:47pm
I certainly wouldn't claim the 3500 ARV. Do some research and come up with a realistic number.

klf113
February 4th, 2006, 7:48pm
This happened to me in the past, and I posted asking for advice here. Just a warning, you will get about 50% of people telling you just forget about it - if you didnt get a 1099 that means the IRS didnt get one either.

The other half of the people will tell you you should be ashamed for even THINKING of not claiming it!

My advice is, like jjarvis, wait - it's probably on it's way. I just got another one on Friday. I think they have to be postmarked by 1/31, but it could still be coming.

jjarvis
February 4th, 2006, 7:48pm
I certainly wouldn't claim the 3500 ARV. Do some research and come up with a realistic number.

The IRS will accept a fair market value (FMV) for the prize package. Substantiate your claim with price quotes online for the same package.

jjarvis
February 4th, 2006, 7:50pm
This happened to me in the past, and I posted asking for advice here. Just a warning, you will get about 50% of people telling you just forget about it - if you didnt get a 1099 that means the IRS didnt get one either.

The other half of the people will tell you you should be ashamed for even THINKING of not claiming it!

My advice is, like jjarvis, wait - it's probably on it's way. I just got another one on Friday. I think they have to be postmarked by 1/31, but it could still be coming.


There is also the slim possibility that your copy was lost in transit and the IRS got their copy. :frown3:

redfantum
February 4th, 2006, 7:52pm
I would give it time as well. If you can't get one, I would still claim it as you are still liable for the tax. I am particularly diligent to claim anything that I have given my SS# to claim whether I receive a 1099 or not. One never knows.

DoveBran
February 4th, 2006, 7:57pm
I won a trip worth $10,000. I know it was not worth that much. Do I just print out prices from online to attach to the forms. I did not receive the from either, but I am sure I will.

jjarvis
February 4th, 2006, 8:01pm
I won a trip worth $10,000. I know it was not worth that much. Do I just print out prices from online to attach to the forms. I did not receive the from either, but I am sure I will.

I would consult a tax professional or research the issue on www.irs.gov .

mrsgerbil
February 4th, 2006, 8:06pm
I'm still waiting on some W-2's, too, so we must be patient.

sandyy456
February 4th, 2006, 8:09pm
I still haven't received the tax papers for my 2 big wins. I'm going to claim them even if I don't get the papers.

jjarvis
February 4th, 2006, 8:11pm
I still haven't received the tax papers for my 2 big wins. I'm going to claim them even if I don't get the papers.

That is a good idea if you want to keep the G-Men away. :wink3:

jellosheriff
February 4th, 2006, 8:36pm
I won a trip worth $10,000. I know it was not worth that much. Do I just print out prices from online to attach to the forms. I did not receive the from either, but I am sure I will.

What you will end up doing is making a statement to attach to your return that shows the 1099 amount and your adjusted ARV. You also need to attach valid documentation to show how you arrived at your adjusted ARV. Be aware that if the IRS disagrees with your version of the ARV, they may audit you or simply charge you for your underpayment plus penalties and interest.

It may be better to submit your documentation to the sponsor and ask for an adjusted 1099 from them before trying to convince the IRS just for your own peace of mind. :sherlock: