This is a great question and depends on a few things!
If you’ve used PayPal to cash out this year, you’ll want to check with them directly about their parameters and regulations regarding taxes. Here’s a link from Turbo Tax about PayPal with a bit of information to get you started.
Money credited to your Dosh Wallet for referring other people is taxable. If you withdraw $600 or more in referral bonuses via transfer into your bank, Venmo, or PayPal account in a calendar year those earnings are subject to being taxed by the IRS. It’s likely you’ll be contacted from us in regards to a 1099 if this is the case.
Please note: You will not be taxed on cash back you have earned. Taxable income includes only card linking and referral bonuses.
We always recommend that you reach out to a tax professional in advance of doing your taxes or if you have any questions about taxes on these earnings!
Have a question? Reach out to our Support Team here!