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Author Topic: Paypal 1099  (Read 1591 times)

Offline Yehuda25

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Paypal 1099
« on: July 06, 2016, 10:57:49 AM »
This was discussed somewhere previously, not sure where.

Per my understanding of paypal's rules, they only issue you a 1099 if the money was sent for goods or services, correct?

https://www.paypal.com/webapps/mpp/irs6050w


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Offline Yehuda25

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Re: Paypal 1099
« Reply #1 on: July 07, 2016, 01:08:30 AM »
Quote from: Yehuda25 on July 06, 2016, 10:57:49 AM
This was discussed somewhere previously, not sure where.

Per my understanding of paypal's rules, they only issue you a 1099 if the money was sent for goods or services, correct?

https://www.paypal.com/webapps/mpp/irs6050w


TIA!
BUMP, anyone?
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Offline Mplace

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Re: Paypal 1099
« Reply #2 on: November 05, 2016, 07:20:40 PM »
Quote from: Yehuda25 on July 07, 2016, 01:08:30 AM
BUMP, anyone?
according to the f&q, correct,
Even though they do say that they 'monitor' to make sure that ppl aren't using F&F in order to sell stuff
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Offline Yehuda25

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Re: Paypal 1099
« Reply #3 on: November 06, 2016, 01:12:46 AM »
Quote from: Mplace on November 05, 2016, 07:20:40 PM
according to the f&q, correct,
Even though they do say that they 'monitor' to make sure that ppl aren't using F&F in order to sell stuff
thanks, anyone have had them issue a 1099 for friends and family?
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Online ckmk47

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Re: Paypal 1099
« Reply #4 on: November 06, 2016, 01:26:44 AM »
Wasn't there a minimum amount you needed to 'earn' before you get a 1099? Something like $20K and 200 transactions?
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Offline Mplace

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Re: Paypal 1099
« Reply #5 on: November 06, 2016, 03:06:01 AM »
Quote from: ckmk47 on November 06, 2016, 01:26:44 AM
Wasn't there a minimum amount you needed to 'earn' before you get a 1099? Something like $20K and 200 transactions?
yes
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Offline JTZ

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Re: Paypal 1099
« Reply #6 on: November 06, 2016, 07:44:36 AM »
Quote from: Mplace on November 06, 2016, 03:06:01 AM
yes
Then can send one for any amount if they chose to.
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