eBay/PayPal | Filing Taxes?

[Michael17]

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20K has been made in a single year/and 200 sales, will I have to report the money made on a stealth account if it was withdrawn to a bank account?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

[phaz0rz]

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

2) Yes that's correct.

[Michael17]

Originally Posted by phaz0rz

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

2) Yes that's correct.

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

[hiwazup]

If they catch you, you are fuuuucked.

[DocumentRequest]

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.

[SaiJin]

Originally Posted by Michael17

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20K has been made in a single year/and 200 sales, will I have to report the money made on a stealth account if it was withdrawn to a bank account?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

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