Hi,
When the job I was performing for one of the companies I service outgrew my capacity, they contracted another supplier to replace me. Our relationship spanned many good years, and I was handed a cheque for several thousands of dollars towards no work performed. I was happy to receive the extra money, and assumed it was a gesture of Appreciation & Honorariums.
Am I correct to treat this as cash Taxable benefit, and if so where do I include it using the Online TurboTax Business and Home software? Can I treat it as Other Income?
Please advice ASAP,
Thanks in Advance,
Joe
Hi Joe,
Thanks for your question. You should treat this as income and add it to your gross income.
Thanks for using TurboTax, please let us know if you have any other questions.
Regards,
Julie
Hi Joe,
Thanks for your question. You should treat this as income and add it to your gross income.
Thanks for using TurboTax, please let us know if you have any other questions.
Regards,
Julie
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