Re: 1099-k on personal account
Dudes there is no panic on my end. I have deductions that lower the $37,000 I made on two separate paypals that bring them down to around $4000 and on my tax level $4000 is like nothing to me. I studiously kept both accounts under $15,000 so as not to have a tax form. Here is the copy of email they sent to me. So when I use the word fallacy REST ASSURED I know what I speak of. I kinda resent you guys tone, like I do not know what I am talking about, when it is OBVIOUS by reading the below letter that I do.
As required by the IRS, we've prepared a Form 1099-K for you. This form summarizes the gross payments you received through PayPal for the sales of goods or services during 2016. This form is available on PayPal.com.
Here's how to view and print your Form 1099-K:
1.Log in to your PayPal account.
2.Select History > Tax Documents.
You will also receive this form in the postal mail soon, if you haven't received it already. We send this information to the IRS as well. If you reside in California, Hawaii or New York, we also report this information to your state's tax authority.
If you need more information, see New Tax Law for Online Sellers.
Sincerely,
PayPal
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