Big news: One-year reprieve on 1099 reporting for ebay etc.

[JustinD]

Originally Posted by cgjackson222

Similarly, I received a 1099K from Paypal last week. Oddly, it appears to include the Friends and Family payments I received last year.

Nothing like taxing people on things that should not be.

I used Venmo, ppff, and cashapp every holiday season to collect donations at work to "adopt" several children as a secret Santa. These donations can total several thousand and myself and a few others would do shopping for each child, wrap and deliver new clothing, winter clothes, and of course toys to these homes. I never made a penny on this and in fact usually lost hundreds, but did not care.

I switched jobs this year and have not organized this of yet. Really happy to know that in their zeal, PayPal feels I need to not do this as the PPFF money needs a gratuity to the irs and myself having to somehow document that all these purchases are for gifts...I am not a 501c, I am just trying to frickin' help.

Of course we all know that people can abuse it. But while in college I sent my son thousands over those years for food and supplies, was he supposed to explain on a return that his dad was giving him pizza and book money?

If that is indeed true, it is an absolute travesty.

Bob C, I expect you will add...I just want to vent as these are unnecessary complications and will absolutely discourage me from using this service. I was using it correctly and now per this information, correctly is not good enough. Garbage, absolute garbage.