|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/but-if-you-are-simply-receiving-income-for-your-12232772.aspx
|
||
| Subject: Re: non-compete income | Date: 3/19/2000 8:55 AM | |
| Author: hghcpa | Number: 32109 of 118626 | |
|
But if you are simply receiving income for your agreement not to compete, it's generally simply ordinary income and should be included in your W-2. ================ If you are not an employee then there is no reporting requirement for the payor - IE it is not a capital transaction reported on 1099-b nor is it a "service rendered" reported on 1099-misc. Although some payors do report it as "other income" IMO it is not required. Pete |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||