I know when a player earns 600 or more dollars at an event, he is requried to report this as income to the IRS.

I know there is a form the player fills out that is sent to him in the mail. Who is responsible for sending it? The player, the PDGA or other?

form 1099-MISC

I think the TD is responsible.

The person who pays is to send a 1099 to both the player and IRS. I believe the PDGA sends out 1099s for Pro Worlds payouts over $599. The IRS will know you received the money from the PDGA or TD filing.

thanks!

I know when a player earns 600 or more dollars at an event, he is requried to report this as income to the IRS.



I'm not a tax accountant, but I'm pretty sure a player is required to report all cash awards/prizes to IRS.

The rule you're referring to requires the TD to report these $599+ payouts, as well. This doesn't excuse the recipient from reporting income in smaller amounts.

See also your local tax professional.

I'm not a tax accountant, but I'm pretty sure a player is required to report all cash awards/prizes to IRS.

The rule you're referring to requires the TD to report these $599+ payouts, as well. This doesn't excuse the recipient from reporting income in smaller amounts.

See also your local tax professional.



That would be correct. Fortunately, between vehicle expenses, transportation and lodging, and supplies (the main 3 types of expenses most disc golfers would encounter), most folks out there would be around the break-even point or well below it (though it's to your advantage to report it even if losing money, since less taxable income = less tax = likely higher refund or lower balance due).

A careful and reasonable reading of the tax code would also make it clear that said income doesn't have to be cold, hard cash. So when Kirk Yoo says there are no ams in disc golf, the IRS agrees.

Frank