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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15734
Experience:  15years with H & R Block. Divisional leader, Instructor
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Are gift cards earned by answering surveys taxed, by the IRS

Customer Question

are gift cards earned by answering surveys taxed, by the IRS or State of NJ
Submitted: 2 years ago.
Category: Tax
Expert:  Robin D. replied 2 years ago.
Hello and thanks for trusting me to help you today. I am a tax adviser with over 20 years of experience.
NJ would follow federal in their understanding.
Generally, an amount included in your income is taxable unless it is specifically exempted by law.
If you are performing the survey and being paid with gift cards, the value of the gift cards would be taxable to you. If your survey is for a specific store or company and they "thank you" with a gift card to their establishment, no, this would not be taxable to you.
You would report the value of the card(s) on line 21. If you are doing this to make a profit then Schedule C would be used.