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June 6, 2019
Question

I received an apartment referral fee from my apartment complex. They made me complete a W-9. How will this be taxed?

  • June 6, 2019
  • 1 reply
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1 reply

Critter
Employee
June 6, 2019

As ordinary income ... when you get the 1099 ...

You can report it as other income on Form 1040 line 21. Here's how to enter it in TurboTax.

·         Click the Federal Taxes tab ( Personal in the Home & Business version)

·         Click Wages & Income. (Personal income in the H & B version)

·         Click "I'll choose what I work on."

·         On the screen "Your 2016 Income Summary," scroll all the way down to the last section, "Less Common Income."

·         Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C."

·         On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income."

·         The next screen asks, "Did you receive any other taxable income." Click Yes.

·         On the next screen, "Other Taxable Income," enter a description and the amount. Click Continue.

·         On the next screen click Done.

The income will be reported on Form 1040 line 21 with the description that you entered.


June 6, 2019
Does this mean it will be taxed at the same rate as my income is? And will that be federal and state taxed? I’m sharing this with someone and want to account for the fact that i will lose part of the $1000 total referral fee