Paypal 1099K and MORTGAGE
Hello all, this is an interesting topic I will be meeting with my accountant and mortgage guy over this week, but I wanted to know if anyone had any experience with this.
I have a business PayPal account, This account was issued a 1099-K for 2016. The 1099-K has my REAL business name and Tax ID number on it. However, it has STEALTH address in a completely different state.
I have filed this 1099-K for 2016 and paid taxes associated with this business. However, I am now applying for a mortgage and the 1099K is one of the documents the lenders are requesting. Will the stealth address in a completely different state cause any issues with the lender? If they ask questions, can anyone assist me in coming up with a line of logic that would make sense as to why PayPal issued a 1099-K form to my business under an address in an entirely different state?
I will be talking to my accountant tomorrow, whom I have a great relationship with, but I do not know how far his knowledge goes as far as mortgage loan applications. I want to gain some more knowledge and get my story straight before meeting with the lender. ANY ADVICE?
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