View Full Version : Yet another tax question!

December 23rd, 2006, 2:08pm
:laugh: Yup, we're getting to year end!

I received an affy today for a win. Have 14 days to return it. Now since it's the 23rd I'm not going to get the prize until 2007. It's not a huge win, so while I have to supply my ss number, not sure whether I'll get a 1099 for it, as it's under that $600 marker.
So for my own peace of mind, do I claim it on 2006 taxes or 2007 taxes? (Assuming I never receive a 1099 for it?)

Thanks y'all it's been a good year!

December 23rd, 2006, 2:19pm
I'm not an expert, but I believe I have heard that if you receive the prize in 2007, that is when you claim it.

December 23rd, 2006, 2:24pm
If you receive the prize in 2007 thats when its taxable

December 24th, 2006, 7:54am
If you receive your prize in 2007, then you report it in 2008 when you do you 2007 tax return.