<smarque1[at]gmail.com> wrote:

- quote -

Self-employment tax.

- quote -

Yes.

--
Phil Marti
Clarksburg, MD

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Thanks for the reply. Whats the tax difference between
awards & non employee compensation? IN other words is it
worth my effort to try and reclassify it?

- thanks

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<smarque1[at]gmail.com> wrote:

- quote -

What do you mean "won ... via work"? Therein lies the answer
to how this should be reported.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<smarque1[at]gmail.com> wrote:

- quote -


Well, two issues.

First you have to report this income, but as Prizes/Awards and
not as nonemployee compensation.

Answer the IRS notice by explaining it is a prize/Award for a
TV, and not nonemployee compensation, and request the IRS go
back to the 1099-Misc issuerer to verify the type of income.

Second, if you can find proof -- newspaper ads from two years
ago, catalog ads, etc, to prove its fair market value was lower
than shown, you would use the lower figure along with copies of
your proof to claim less income.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Hello,

I won a plasma TV via work 2 years ago in 2004. Samsung
shipped it to me and that was the last I heard of it. I
never received any paperwork or an entry on my 2004
earnings. Just recently I recived a notice from the IRS
stating that my 2004 tax return was incorrect and I owe
$1600 as the TV was not reported. It appears Samsung
submitted a 1099 MISC with my social for the amount of the
TV....$4000 that was listed as Non Employee Compenstation.

I was wondering what recourse I have if any. While I did
receive the TV I never received the 1099 (thus I never new
what it was worth) and the MSRP is outrageous as the market
price is only around $2200.

- thanks for your time

Sam

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >