PayPal IRS Statements

[autograf]

Interesting.........Friends/Family DOES count against your total. Wasn't sure about that.

[glchen]

I just checked my Paypal account, and I haven't received my statement yet. I was pretty sure that I was over the threshold also, but it's possible I had fewer than 200 transactions.

[Leon]

I am curious, does anyone know if we were going to get one would it already be posted on the paypal site, under tax documents (as correctly pointed out above)? Mine says..

Tax documents
Tax year:

Here are your 2014 tax documents.

Document Description
You have no 2014 tax documents.


.

[slidekellyslide]

Originally Posted by Leon

I am curious, does anyone know if we were going to get one would it already be posted on the paypal site, under tax documents (as correctly pointed out above)? Mine says..

Tax documents
Tax year:

Here are your 2014 tax documents.

Document Description
You have no 2014 tax documents.


.

Mine came right up...I have received nothing in the mail as of yet. I would assume they do this form for everyone even if they didn't hit the $20,000, but I could be wrong.

[Bocabirdman]

This year, I have hit neither threshold and there is no statement for me on My PayPal.

[slidekellyslide]

Originally Posted by Bocabirdman

This year, I have hit neither threshold and there is no statement for me on My PayPal.

Interesting...so someone with $19,999 in sales has to report nothing to the IRS?

[Bocabirdman]

Originally Posted by slidekellyslide

Interesting...so someone with $19,999 in sales has to report nothing to the IRS?

Or more, if the second threshold of 200 transactions is not met..

Lifted from PayPal Help:

Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:
• More than $20,000, AND
• 200 or more payments.

[D. Bergin]

Originally Posted by slidekellyslide

Interesting...so someone with $19,999 in sales has to report nothing to the IRS?

You still have to report it, Paypal is just not obligated to provide a 1099 form for it.