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Yes.

Basically, any money you receive for any reason should be reported somewhere on your taxes.

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15y ago

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Related Questions

Do you have to claim money given to you on federal taxes?

No.


Why are there no federal taxes taken from your paycheck?

There are two reasons you may have no federal taxes taken is if you claim exempt on your W4 or if you claim a higher amount of dependents.


If your child is 18 can you claim them on your taxes?

My child was in the Job Corps last year, can I still claim him on my federal income taxes as a dependant?


Do you have to claim inheritance money on federal taxes?

Inheritances are not taxed by the federal income tax.


What will you get back in taxes if you made 34000?

It depends on what they took out for federal taxes, and if your state takes out taxes, and what deductions you claim


Can you Claim state taxes on federal return?

Yes. And if you pay more in sales taxes than state income taxes, you can use that


Do you have to claim short-term disability check if taxes weren't taken out?

This is not declared income and you will not have to pay income taxes on it. Same thing for child support. However, Alimony payments have to be delclared and will be taxed.


When are you eligible to claim yourself on taxes for 1040?

You are not eligible to claim yourself as a dependent on your federal taxes -- ever. However, you are allowed to claim a personal exemption for yourself if and only if no one else can claim you as a dependent, whether or not they actually claim you.


Do you have to claim inheritance money on taxes?

Inheritances are not taxed by the federal income tax.


Can someone claim your child on their state taxes if you claimed that same child already on your federal taxes?

No, the state will accept only dependants listed on your federal return


Do you claim federal tax refund on this years federal tax?

No. But if you live in one of the states that allows a state deduction for federal taxes and you took such a deduction, you may have to claim it on your state return.


Do you claim alimony received on a temporary court order on your Federal Tax return?

The simple answer is yes. There may be cases or circumstances where you do not have too, but you will need to contact an accountant or tax professional regarding yours. Remember, no one ends up in hot water for overpaying taxes