Received a Federal Tax statement from paypal
in 2010 I was limited by paypal and had to setup a new paypal account in my fathers name with his permission, so for my 2010 taxes I just reported all of my paypal earnings on my tax return as my earnings even though the paypal account is under his name, all of the money went to me it was just in his name.
Now today I received this IRS 1099-K tax statement from paypal and my fathers name is on it and the paypal earnings are being reported to the IRS and if he does not include the paypal earnings on his tax return he could get into trouble, so I'm wondering if there is someway for me just to report the taxes on my return since I'm the one who got the money?
here is more info on this from paypal: http://paypal.com/irs
Last edited by cb3; 02-08-2012 at 04:45 PM.
|