Cardcollectorguru on our board....

[slidekellyslide]

I would think that using paypal gift or friends all the time would be a huge red flag for the IRS. I know that most people here using it just don't want paypal to cut into their profit on a sale, but I think the IRS looking at it would see a lot of money moving around between "friends".

[Sean1125]

Originally Posted by slidekellyslide

I would think that using paypal gift or friends all the time would be a huge red flag for the IRS. I know that most people here using it just don't want paypal to cut into their profit on a sale, but I think the IRS looking at it would see a lot of money moving around between "friends".

IRS does not look at it unless you receive $20k or more than 1k transactions in a given calender year. Those 20k in transactions have to be REGULAR paypal as well.

[tribefan]

It would seem that some sellers want to remain below a certain threshold with regular Paypal, and request gift or friends and family payment. If that is the case, maybe they would offer a discounted price?

[slidekellyslide]

Originally Posted by Sean1125

IRS does not look at it unless you receive $20k or more than 1k transactions in a given calender year. Those 20k in transactions have to be REGULAR paypal as well.

I know...I blow by that in a month and a half.