"Other" Taxable Income

Income from hobbies, gambling, tips, is fully taxable and must be reported to the IRS.

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Reporting "other" taxable income

"Other" taxable income is reported as "miscellaneous income" and can include:

  • Hobby income
  • Gambling winnings
  • Prizes
  • Awards
  • Jury duty fees
  • Trusts and estates execution fees
  • Barter income
  • Election judge's fees

There is no single form that lists your miscellaneous income. And, with some "other" taxable income, no form at all will list it. This does not mean it isn't taxable.

Form 1099-B - hobby income

IRS tax form 1099-B records hobby income or barter income. It is fully taxable.

Income made from a hobby is considered hobby income unless it has been profitable for more than three years, when it is considered a business.

When you're paying taxes on your hobby, remember to also deduct the losses or expenses of your hobby as a miscellaneous itemized tax deduction.

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Gambling winnings (and losses)

Your gambling winnings is fully taxable and are included as "other taxable income".

Gambling losses can be claimed as an itemized deduction,.

"Other" taxable income forms

Form 1099-MISC lists other taxable commissions

Form 1099-G lists Alaska Permanent Fund distributions.

Foreign income must be reported as "miscellaneous taxable income".

Unreported tips also need to be reported and Form 4137 needs to be completed.

Related IRS publications

For more information about miscellaneous earned taxable income, check out IRS Publication 525.

Note: you will need an Adobe Acrobat Reader to view these publications, which you can get here. (But you probably already have it.)