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#1
02-05-2018, 06:37 PM
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PayPal 1099 - bad news for MA and VT residents
I kept checking all year during 2017 to maintain my PayPal transactions to well under the $20K and 200 transaction thresholds. So I was quite surprised today when a 1099 showed up from PayPal for my sales of well under $20K.
I just got off the phone with PayPal - apparently Massachusetts and Vermont passed regulations late in 2017 that required PayPal to send out 1099's to residents of their states, for transactions totaling over $600. WTF?? Apparently this can be done with no notifications?? Did anybody else get blindsided by this turn of events? Hopefully for the rest of you - this isn't the start of this becoming the norm for all states..... 
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