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Do you have to pay taxes on a check that is in your name?

Updated: 8/17/2019
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14y ago

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It depends entirely on why you are receiving the check.

For example, if you are receiving the check for services rendered, then yes.

For example, if you are receiving a loan or a gift, then no.

There is nothing special about receiving a check. The same principles apply whether you receive a check, cash, bank transfer, a goat, or a sack of magic beans.

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14y ago
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Q: Do you have to pay taxes on a check that is in your name?
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