Page 209 - Other Income for Individuals

Other Income

You must verify and report other income in taxes

Department of Prizes Sharing/Gig Economy Stolen Property
Veterans Affairs (VA)  Generally, if you work in the
payments.  Scholarship prizes won in a  If you steal
contest aren’t scholarships or gig economy or did gig work, property, you must

 Allowances paid by fellowships if you don’t have to you must include all income report its fair
the VA aren’t use the prizes for educational received from all jobs market value in
whether you received a Form
purposes.
included in your  You must include these 1099-K, Payment Card and your income in the
income. amounts in your income on Third-Party Network year you steal it
 These allowances Schedule 1 (Form 1040), line 8, Transactions, or not. unless you return
aren’t considered whether or not you use the  See the Instructions for it to its rightful
scholarship or amounts for educational Schedule C (Form 1040) and owner in the same
fellowship grants. purposes. the Instructions for Schedule year. 207
SE (Form 1040).