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Tax on Resolution Payout

‎25-02-2022 12:47 PM
Jeroen94
Level 1
Irvine, CA
‎25-02-2022 12:47 PM

Tax on Resolution Payout

We received $200 from a guest after we had to dump and refill our hot tub.  When we remit out TOT taxes at the end of the quarter, do I need to pay tax on this amount?  It is considered income, correct?

‎25-02-2022 12:47 PM
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‎25-02-2022 11:56 PM
Lorna170
Level 10
Swannanoa, NC
‎25-02-2022 11:56 PM

@Jeroen94   Yes, it is income and therefore taxable.

‎25-02-2022 11:56 PM
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