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Are you part of the “sharing” economy?

The IRS defines the “sharing” economy as economic activity generated through the use of technology that lets you earn money from your assets, such as a car. Income from these activities, including room rentals and car rides, is taxable, and you may be able to deduct related expenses. Depending on the work you do, special tax rules can apply. Contact us for information about how to report your sharing activity income.