if i get $500 gift card to check out a website, do I have to pay taxes on that?
Do i have to pay taxes on gift cards i receive from businesses?
Yes, and please let us know where to get $500 for just "checking out a website".
Be careful you don't get scammed.
Reply:the answer is legally Yes, but since it was for $500, the company that sent it to you does not have to file a 1099. (If you ever gave them your social security number then expect a 1099 and it will show on the IRS radar)
Reply:Yep
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