It’s nuanced. Apparently you do need to be itemizing deductions:
https://www.irs.gov/taxtopics/tc419
On the plus side, if you keep each individual payout below $600, you can avoid it entirely.
I see that the rules were likely changed with the Trump tax changes in 2016, I apologize for spreading outdated information.
It’s nuanced. Apparently you do need to be itemizing deductions: https://www.irs.gov/taxtopics/tc419 On the plus side, if you keep each individual payout below $600, you can avoid it entirely. I see that the rules were likely changed with the Trump tax changes in 2016, I apologize for spreading outdated information.