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eBay/PayPal | Filing Taxes?
 

I was told PayPal reports to the IRS after 20K has been made in a single year/and 200 sales, will I have to report the money made on a stealth account if it was withdrawn to a bank account?

I highly I doubt I'll ever end up reaching 20K or even 10K selling, but just a question I have in mind.

I was also told, to withdraw from a stealth account, to just add a fresh bank that hasn't been used previously on another PayPal, is that correct/the right way to do it?


Sorry if these questions have been answered before, or I can find them in the eBay stealth. I can't purchase eBay stealth atm due to me not having a PayPal or CC to do so, I just have BTC, and they're not accepting BTC on the site.

Re: eBay/PayPal | Filing Taxes?
 

1) It's up to you. Take the risk if you want to.

2) Yes that's correct.

Re: eBay/PayPal | Filing Taxes?
 

If I don't withdraw the money and just spend it directly from the PayPal account online, will that raise any flags?

Re: eBay/PayPal | Filing Taxes?
 

If they catch you, you are fuuuucked.

Re: eBay/PayPal | Filing Taxes?
 

Even if you are on pace to hit they 200/20K mark they will request your tax information. Whether you withdraw or spend it, you will have to report it, which will be broken down when you report your taxes.

Re: eBay/PayPal | Filing Taxes?
 

1. About the bank yes, you need to use a new bank.

2. Based on your replies here I really think the ebay stealth will help you tremendously. I think you should go to that website and contact their support by email and ask if other payment methods can be arranged