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Old 01-22-2012, 01:48 PM   #1 (permalink)
hairysasquatch's Avatar
Join Date: Dec 2008
Location: Big Bone Lick, Central NY
Posts: 4,419
Default 1099's from eBay and/or Paypal?

Anyone been hit with one yet?
Bawitdaba, da bang, da dang diggy diggy, diggy, said the boogie, said up jump the boogie
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Old 01-22-2012, 08:34 PM   #2 (permalink)
DaveTaplin's Avatar
Join Date: Aug 2010
Location: Rockland, Me
Posts: 1,288

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, 01:41 PM   #3 (permalink)
Join Date: Oct 2011
Location: Lewiston, NY
Posts: 139

is paypal sending information for any amount or a set amount?
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Old 01-23-2012, 02:50 PM   #4 (permalink)
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Join Date: Jul 2007
Posts: 8,892

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.
I need to get this flag off as my avatar.
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