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Reporting Your Other Income


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The IRS updated its “Tax Gap” series with a new fact sheet, Reporting Miscellaneous Income, which includes guidelines for reporting self-employment income, barter exchanges of goods and services, gambling winnings, prizes and awards.


The series, located at www.irs.gov/newsroom/article/0,,id=158619,00.html, also includes fact sheets on reporting auction income and capital gains, tax tips for direct sellers, and third-party reporting reminders. Each fact sheet provides links to related publications, forms and frequently asked questions.

Source: IRS, www.irs.gov.

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