I was babysitting for a relative all last year.. I assumed it was going to be just something to do for a family member... In December my relative gave me cash and said "this is for you. Thank you for watching my children for me all this time." Since the amount they gave me a couple thousand dollars,I assumed i had to claim this as income on taxes. Did i do the right thing? Was I supposed to claim this even without thorough documentation? I was not given a 1099 (babysat in my house) and I dont even know if my relative claimed the expense on their taxes...
Yes it is reportable, this income also allows for applicable expenses to be reported. This could result in a lower realized gain and tax due.
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International Law Attorney
Yes, you did the right thing. Best
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Personal Injury Lawyer
Report it as if you did receive 1099... As pointed out above you can then deduct your expenses, such as automobile expenses if you had to use it, etc...
Of course my answers are not the only source that you should rely on. Furthermore, its best to contact me about your Legal or Medical issues at my office number 215-240-7565. Licensed to Practice Law in PA and NJ. Medical PA license.