Great question! I went through this exact situation last year and learned a lot about how survey income works with taxes. Here's what I discovered: The key thing to understand is that survey rewards ARE taxable income regardless of whether you receive any tax forms. The $400-500 you earned definitely needs to be reported on your tax return. For the 1099-K specifically - PayPal will only send you one if your total payments received through their platform exceed $600 for the tax year (this is the current threshold). If you're under that amount, you won't get a 1099-K, but you still need to report the income. Since you're doing surveys occasionally rather than as a regular business, this income should typically be reported as "Other Income" on Schedule 1 of your Form 1040, not as self-employment income. This is important because it means you won't owe self-employment tax on it, which saves you about 15.3%. Make sure to keep records of all your survey payments - PayPal should have a transaction history you can download. Even without receiving tax forms from the survey companies, you're responsible for reporting the income accurately. The IRS considers survey participation as being paid for your time and opinions, which makes it taxable income even though you're not technically an employee of these companies.

Adding to what others have said about the 1099-K threshold and reporting requirements - one important thing to keep in mind is that the IRS has been pretty clear that ALL income is taxable, regardless of whether you receive tax forms or not. For your $400-500 in survey income, you're definitely required to report it even without a 1099-K. The good news is that since this sounds like occasional survey participation rather than a regular business activity, you should be able to report it as "Other Income" on Schedule 1, which means you'll avoid the 15.3% self-employment tax. I'd recommend downloading your complete PayPal transaction history for the tax year to get an exact total of all payments you received. This will serve as your documentation since you likely won't receive any tax forms from the survey companies themselves. One tip that helped me: when reporting this on Schedule 1, I wrote something like "Survey rewards - various companies via PayPal" in the description field. This makes it clear what the income was if the IRS ever has questions, and shows you're being transparent about the source. The key is just making sure you report the full amount accurately, even though the process might seem confusing without receiving official tax forms.

Anyone know if there's a way to check how many times I've claimed AOTC in the past? I honestly can't remember if I've used it for 3 or 4 years during my undergrad.

I went through this exact same situation last year! The key thing to understand about Form 8863 Line 19 is that it's essentially a checkbox certification where you confirm you haven't exceeded the 4-year lifetime limit for AOTC. Since you mentioned you're 24 and in post-bacc studies, the critical question is how many years you've already claimed AOTC during undergrad. If it's 3 or fewer years, you can still claim AOTC for this year, which would typically give you a better credit than Lifetime Learning. Here's what helped me figure it out: I pulled my tax transcripts from the IRS website (irs.gov - search "Get Transcript") to see exactly how many years I'd claimed AOTC. Turns out I'd only used it twice, so I was eligible for AOTC even as a post-bacc student. For Line 19 specifically, if you've claimed AOTC for 3 or fewer prior years, you'd check "No" to the question about claiming it for more than 4 years. This confirms you're still within the lifetime limit and can claim it this year. The income limits and qualified expenses requirements still apply, but TurboTax should help you navigate those once you get past the Line 19 confusion!

Has anyone used something like Coinbase Commerce for handling the actual transaction? We're getting ready to accept Bitcoin for an equity stake and trying to figure out the most secure way to receive it while maintaining proper documentation for tax purposes.

Just went through this exact scenario with our SaaS startup a few months ago! One crucial thing I learned that hasn't been mentioned yet - make sure your operating agreement specifically addresses crypto contributions before accepting the Bitcoin. We had to amend ours because the standard language about "cash or cash equivalents" created ambiguity about whether Bitcoin qualified. Also, beyond the tax implications everyone's discussing, consider the volatility risk. We ended up converting the Bitcoin to USD within 48 hours of receiving it because we couldn't afford to have our working capital fluctuate wildly. Document everything with multiple timestamps - when you receive it, the market value at receipt, and when you convert to USD. This creates a clear paper trail for both tax purposes and investor relations. The IRS guidance on this is actually pretty clear once you dig into it - Rev. Rul. 2014-21 covers the basics, though it doesn't specifically address capital contributions to partnerships/LLCs. Your basis in the Bitcoin is indeed the fair market value when contributed, so you're only taxed on appreciation from that point forward.

When I got a CP80 last year, I also found out that sometimes the IRS cashes your check but your return gets routed to a different processing center because of something unusual on it (in my case it was claiming a special tax credit). Could explain why they have your payment but not your return.

This exact thing happened to my neighbor last year! The CP80 notice can be really scary but it's usually just a processing mix-up. Here's what worked for her: She called her bank and got a copy of the front and back of the cashed check - the back showed it was endorsed by the IRS Treasury, which proved they definitely received her payment. Then she made copies of her entire tax return and wrote a cover letter explaining the situation. The key thing is to respond quickly to the CP80 notice. Don't wait thinking it will resolve itself. Include: - Copy of your complete tax return (mark it "DUPLICATE - CP80 RESPONSE") - Copy of the cashed check or bank statement - Brief letter explaining you filed and paid on time Send everything certified mail to the address on the CP80 notice. My neighbor got a letter back in about 6 weeks confirming everything was straightened out. The IRS even apologized for the confusion! Also, definitely keep trying to call the IRS. Early morning (around 7 AM) seems to have shorter wait times. You might get through eventually and they can sometimes resolve it over the phone if you have your documentation ready.

Has anyone dealt with refinancing separate property within an LLC? We're in Washington (community property) and my husband transferred his pre-marriage rental into our LLC, but now we want to cash-out refinance it to buy another property. Would using that money for a new property in the same LLC automatically make the new property community even though the source funds came from separate property?

This is a complex area where federal tax law and state property law intersect in tricky ways. Since you're in Arizona, I'd recommend getting familiar with A.R.S. § 25-213 and § 25-214 which govern transmutation of property between separate and community status. The key issue with your wife's pre-marital properties is whether transferring them to a jointly-owned LLC constituted a gift to the marital community. Arizona courts look at several factors: the intent at time of transfer, how the LLC is managed, how profits/losses are shared, and whether community funds were used for improvements or debt service. For basis step-up planning, this distinction is crucial. If those 4 properties are now community property, both spouses' interests get stepped-up basis at the first death. If they remained separate property, only the deceased spouse's portion gets the adjustment. One practical tip: consider having your LLC operating agreement amended to clearly state the separate vs community character of each property's contributed basis, even if you don't change the actual ownership percentages. This creates better documentation for future tax purposes while preserving your options for estate planning strategies. You might also want to explore whether a spousal property agreement could clarify the status of these properties going forward, especially if you're doing broader estate planning.