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Old 01-22-2012, 02:48 PM   #1 (permalink)
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Default 1099's from eBay and/or Paypal?

Anyone been hit with one yet?
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Old 01-22-2012, 09:34 PM   #2 (permalink)
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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)
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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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Quote:
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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