Those using swagbucks ???

[dez1978]

I just got the Apple card...2-3% cashback now goes into my bank account every month. Then, I use that "reward" money to buy Disney gift cards. I will either save 5% off the top (and earn 1% back later via RMN) buy purchasing them with my RedCard, or if I am really feeling motivated, I take the extra steps to transfer the funds to my PayPal account and then wait for RMN to run their 8-12% rebates at ShopDisney and then buy them there. Then when the rebates hit from RMN, I repeat the process. It's slow-going, but it is definitely worth the effort. When people ask me how I am able to afford to go to Disney so often (um...I only go once a year....it's not like I am there 3-4 times a year!), I start to tell them all of the steps I take and their eyes just glaze over. It is definitely not for the faint-hearted...you have to be dedicated!

Right? I have some pretty big disney friends who only end up going every 3 years bc it's pricey. But when I tell them how I save 10-15% they act like thats too much work. I mean it is a lot of work, but it's also enough $ to pay for an extra night or 2 so to me thats worth it.

 

[georgina]

I have been planning to cut back for 2022 because of the new Paypal IRS reporting rules. Much of my SB are not taxable and I don't want to deal with the accounting. I had been going pretty hard on the buy 2000 SB for $20 deal when they had it a couple of times in the fall, was great for credit card rewards also. Unfortunately, I have both my and DH's SB paypal money going into my account so it adds up faster. As a result of my buying so many SB last year, I just hit ruby level (1,000,000 lifetime SB) and they credited me an extra 15,000 SB. So if I am trying to keep my earnings under $600 this year, I already made 25% of that! If I had known I would have made an effort to hit the milestone in 2021.

 

[Momtwofour]

I have been doing SB for 7 years. I have never received anything about claiming my earning on my taxes. I primarily cash out to PayPal. How do we know if we are supposed to claim it?

 

[georgina]

I have been doing SB for 7 years. I have never received anything about claiming my earning on my taxes. I primarily cash out to PayPal. How do we know if we are supposed to claim it?

If you hit the number, Paypal will demand your SS# before they will let you transfer the money out of Paypal. Then they will send you a 1099, and it will be up to you to figure out which SB activities are taxable. It is listed on the SB website. The rules have changed and for 2022 Paypal will now have to report any money earnings over $600. I think SB was already asking for that info if you hit $600 in gift cards, I had been cashing out everything to Paypal after my first discounted GC every month to avoid that.

From the website - Upon reaching $600 or more in SB redemptions in one calendar year, you will be prompted to fill out the required tax information about yourself. You will not be allowed to continue redemptions (except for PayPal and Gambit) for the rest of the calendar year until you successfully complete the tax form.

Common Questions
Q: What types of SB redemptions count towards the $600 IRS threshold?
A: All Gift Cards and Rewards, except: PayPal & Gambit

Q: Which earning activities count towards being taxable?
A: The following activities ARE classified as taxable:

• Registration/Promotional/Referral
• Search
• Answer (Surveys, Tasks & Any Receipt)
• Games (except GSN)
• nCrave /Watch
• SB Live

A: The following activities ARE NOT classified as taxable:

• Gambit Earnings
• Discover / Offers
• Shopping
• GSN
• In-Store Deals
• Buy SB

 

[Momtwofour]

If you hit the number, Paypal will demand your SS# before they will let you transfer the money out of Paypal. Then they will send you a 1099, and it will be up to you to figure out which SB activities are taxable. It is listed on the SB website. The rules have changed and for 2022 Paypal will now have to report any money earnings over $600. I think SB was already asking for that info if you hit $600 in gift cards, I had been cashing out everything to Paypal after my first discounted GC every month to avoid that.

From the website - Upon reaching $600 or more in SB redemptions in one calendar year, you will be prompted to fill out the required tax information about yourself. You will not be allowed to continue redemptions (except for PayPal and Gambit) for the rest of the calendar year until you successfully complete the tax form.

Common Questions
Q: What types of SB redemptions count towards the $600 IRS threshold?
A: All Gift Cards and Rewards, except: PayPal & Gambit

Q: Which earning activities count towards being taxable?
A: The following activities ARE classified as taxable:

• Registration/Promotional/Referral
• Search
• Answer (Surveys, Tasks & Any Receipt)
• Games (except GSN)
• nCrave /Watch
• SB Live

A: The following activities ARE NOT classified as taxable:

• Gambit Earnings
• Discover / Offers
• Shopping
• GSN
• In-Store Deals
• Buy SB

I know I earned more than $600 in 2021 but I only redeem through paypal. I would say my sb are pretty balanced between surveys, discover and shopping. I dont have any referrals. Maybe thats why I have never been asked? I occasionally see people post in fb groups about it but I have never understood why
Thanks for the info

 

[cjnix29]

Has anyone bought park tickets through Sam's/swagbucks. Did you get SB for it? Exclusions say gift cards, but wasn't sure how travel/tickets would credit? Price is about $5 cheaper than UndercoverTourist, and then with another 8%, that would be pretty good if it credits.

 

[georgina]

I know I earned more than $600 in 2021 but I only redeem through paypal. I would say my sb are pretty balanced between surveys, discover and shopping. I dont have any referrals. Maybe thats why I have never been asked? I occasionally see people post in fb groups about it but I have never understood why
Thanks for the info

So I got a 1099-k from PayPal today even though from their website it looks like I didn’t earn enough to get one. I’m not sure how to handle it, I am going to try to call them but I don’t expect any help. I don’t understand why I got one if other swagbucks users didn’t.
Hmmm, looks like Virginia lowered its threshold to $600 earlier than the federal government, I was only a VA resident for 6 months but of course PayPal reported it all as VA. After I get this years taxes done I am going to delete my PayPal account.

 

[angelbaby129]

I have been planning to cut back for 2022 because of the new Paypal IRS reporting rules. Much of my SB are not taxable and I don't want to deal with the accounting. I had been going pretty hard on the buy 2000 SB for $20 deal when they had it a couple of times in the fall, was great for credit card rewards also. Unfortunately, I have both my and DH's SB paypal money going into my account so it adds up faster. As a result of my buying so many SB last year, I just hit ruby level (1,000,000 lifetime SB) and they credited me an extra 15,000 SB. So if I am trying to keep my earnings under $600 this year, I already made 25% of that! If I had known I would have made an effort to hit the milestone in 2021.

How do you send both your and dh's money to the same account?

 

[havaneselover]

So I got a 1099-k from PayPal today even though from their website it looks like I didn’t earn enough to get one. I’m not sure how to handle it, I am going to try to call them but I don’t expect any help. I don’t understand why I got one if other swagbucks users didn’t.
Hmmm, looks like Virginia lowered its threshold to $600 earlier than the federal government, I was only a VA resident for 6 months but of course PayPal reported it all as VA. After I get this years taxes done I am going to delete my PayPal account.

Yep. Year 2 of a 1099-k from Paypal in VA It's such a PITA. I'm rerouting everything away from Paypal. Get a check from Ebates, cash out for more gift cards instead of paypal, etc.

 

[afan]

Yep. Year 2 of a 1099-k from Paypal in VA It's such a PITA. I'm rerouting everything away from Paypal. Get a check from Ebates, cash out for more gift cards instead of paypal, etc.

What I do as well. Also keeping track of how much I get via paypal since I'd still like it as an option. Barely doing sb any more so nowhere near the $ coming in as previous years. I do have 3 or 4 long term focus groups though. They are generally slower earners and offer visa and PayPal but sometimes I just want the cash. Or something ends and I don't have enough for a decent visa. If I can't buy a dgc I'd rather have cash.

 

[georgina]

How do you send both your and dh's money to the same account?

I think I just added the email address associated with his SB account to my paypal account. It is a separate email from his day-to-day gmail that he uses for everything else.

 

[kristenrice]

If I cash out for a Visa Gift card from Swagbucks, and then use that for a purchase through PayPal, is this something I should get a 1099-K for? I have cashed out less than $300 to PayPal from SurveysToGo and less than $100 from RetailMeNot, but I am fairly certain that I have cashed out about $300 in Swagbucks ($25 per month in Virtual Visas) that I have linked to PayPal to use as payments. Where does the $600 threshold come into play? Is it from one source, or is it cumulative? I am SO confused???

 

[havaneselover]

If I cash out for a Visa Gift card from Swagbucks, and then use that for a purchase through PayPal, is this something I should get a 1099-K for? I have cashed out less than $300 to PayPal from SurveysToGo and less than $100 from RetailMeNot, but I am fairly certain that I have cashed out about $300 in Swagbucks ($25 per month in Virtual Visas) that I have linked to PayPal to use as payments. Where does the $600 threshold come into play? Is it from one source, or is it cumulative? I am SO confused???

Cumulative I believe (mine came from Raise, MyPoints, Swagbucks, Swappa, and Ebates I think). But the visa gift cards used through paypal shouldn't count if I'm understanding correctly.

And if you get it, it's not the end of the world but is a pain. I guess my taxes are such a pain this doesn't register. I just have to net out things that aren't taxable and "selling costs" (e.g., I sold an xbox on swappa but only the profit is taxable).

 

[afan]

If I cash out for a Visa Gift card from Swagbucks, and then use that for a purchase through PayPal, is this something I should get a 1099-K for? I have cashed out less than $300 to PayPal from SurveysToGo and less than $100 from RetailMeNot, but I am fairly certain that I have cashed out about $300 in Swagbucks ($25 per month in Virtual Visas) that I have linked to PayPal to use as payments. Where does the $600 threshold come into play? Is it from one source, or is it cumulative? I am SO confused???

They are concerned with the money you are receiving from others. They don't know where the cards you use to pay for stuff via PayPal come from.

 

[georgina]

If I cash out for a Visa Gift card from Swagbucks, and then use that for a purchase through PayPal, is this something I should get a 1099-K for? I have cashed out less than $300 to PayPal from SurveysToGo and less than $100 from RetailMeNot, but I am fairly certain that I have cashed out about $300 in Swagbucks ($25 per month in Virtual Visas) that I have linked to PayPal to use as payments. Where does the $600 threshold come into play? Is it from one source, or is it cumulative? I am SO confused???

As far as I can tell, there are 2 separate categories - if you cash out for GC (excludes paypal and gambit) through SB, once you hit $600 you get a 1099 from SB. So your Visa GC are in that category. They are not part of the paypal category for SB. I believe paypal would treat them like any other credit card payment and not subject to the limit either. I have decided to try cashing out less than $600 in Amazon GC and less than $600 in paypal for 2022 and see what happens.

From the SB website - Upon reaching $600 or more in SB redemptions in one calendar year, you will be prompted to fill out the required tax information about yourself. You will not be allowed to continue redemptions (except for PayPal and Gambit) for the rest of the calendar year until you successfully complete the tax form.

Q: What types of SB redemptions count towards the $600 IRS threshold?

A: All Gift Cards and Rewards, except: PayPal & Gambit

 

[Momtwofour]

This is so confusing. So if you split your redemption of SB between Paypal and Gift cards you wont have to file a 1099k? Say you did $500 to each?

 

[georgina]

This is so confusing. So if you split your redemption of SB between Paypal and Gift cards you wont have to file a 1099k? Say you did $500 to each?

It is confusing! That is what I THINK will happen. I have never gotten a 1099 from SB itself for my GC redemptions which have always been less than 600. I went over 600 with paypal last year which shouldn't have triggered a 1099 but I moved to Virginia not realizing VA had a 600 threshold. But going forward paypal will be required to send one out to everyone for over 600, new IRS requirement. (For this type of transaction, they say they won't for the friends sending money to each other, splitting meals, etc types of transactions.)

 

[Momtwofour]

I did get one from PayPal for 2021. I now have to amend my taxes because they never sent it to me or notified me. I discovered it on my PayPal account. I really don’t want to buy gift cards but if it avoids a 1099k I will

It is confusing! That is what I THINK will happen. I have never gotten a 1099 from SB itself for my GC redemptions which have always been less than 600. I went over 600 with paypal last year which shouldn't have triggered a 1099 but I moved to Virginia not realizing VA had a 600 threshold. But going forward paypal will be required to send one out to everyone for over 600, new IRS requirement. (For this type of transaction, they say they won't for the friends sending money to each other, splitting meals, etc types of transactions.)

 

[Momtwofour]

And another thing that has me totally confused is I was doing some googling and it said that the $600 threshold for Paypal doesnt start until 2022. So why did I get one from Paypal?

 

[georgina]

And another thing that has me totally confused is I was doing some googling and it said that the $600 threshold for Paypal doesnt start until 2022. So why did I get one from Paypal?

When I called PayPal to ask, I was told some states changed their rules earlier than 2022. Googled and found this -
Several states have already closed this reporting loophole on the state level:

• Maryland, Massachusetts, Mississippi, Vermont, and Virginia require a 1099-K to be filed with the state tax agency if a TPSO pays a state resident $600 or more during the year.
• Illinois and New Jersey have a $1,000 1099-K threshold (plus, for Illinois, a requirement of at least four transactions).
• Arkansas has a $2,500 threshold.
• Missouri has a $1,200 threshold.