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Old 01-22-2012, 02:48 PM   #1 (permalink)
hairysasquatch's Avatar
Join Date: Dec 2008
Location: Sunnyvale Trailer Park, Central NY
Posts: 4,110
Default 1099's from eBay and/or Paypal?

Anyone been hit with one yet?
Over 250 confirmed thread - killing posts and counting!
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Old 01-22-2012, 09:34 PM   #2 (permalink)
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Join Date: Aug 2010
Location: Rockland, Me
Posts: 1,276

Have not seen it yet. You don't need it for tax purposes any way this year. There is a new line for the 1099 K on the form but it says to enter 0 and any income be listed on a different line. It actually says 1099k info not used this year.

Paypal is still sending the info to the government so the need to file is still there, just not the need for the form itself.

You can just view the yearly report that will give the totals.
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Old 01-23-2012, 02:41 PM   #3 (permalink)
Join Date: Oct 2011
Location: Lewiston, NY
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is paypal sending information for any amount or a set amount?
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Old 01-23-2012, 03:50 PM   #4 (permalink)
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Originally Posted by scottkoz20 View Post
is paypal sending information for any amount or a set amount?
They REPORT for 200 transactions AND $20,000. Must hit both. So far in 2012 I notice my buyers havent been able to make combined payments, instead if they buy 4 items Im getting multiple payments.
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