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Limited paypal account. Powerseller ebay account. Need help
 

So my paypal was limited last year after getting the $20,000/200 item message warning.

My ebay is a powerseller.

Can I just make a new paypal and link it to a new bank account and then just link that paypal account to my current ebay stealth powerseller or would they catch that and ban me?


Or. Should I make an EIN and use a DBA /tax ID to verify the ebay account.

If I make a new EIN and use that to verify the ebay account. Will then the sales (Approx $4000) from 2014 be reported to the IRS for 2014 or 2015 or would they not be reported at all

Re: Limited paypal account. Powerseller ebay account. Need help
 

No.

1 PP per EB.

Getting an EIN is a good option.

Talk to an accountant about tax issues.

Re: Limited paypal account. Powerseller ebay account. Need help
 

Go with your second option and provide an EIN

You will only get a 1099 if your sales exceeded both 200 transactions and $20K

If you did not pass both than you will not receive a 1099 for 2014


Don't even try making a new PayPal you will end up destroying the eBay account

Re: Limited paypal account. Powerseller ebay account. Need help
 

Since I didn't pass either mark and clearly didn't receive a 1099 (Is it usually sent via email). does that mean my sales were insignificant and are like "household items" that I sold therefore no need to even bother filing for taxes ( I have no problem paying tax but if I don't have to then I won't)

Re: Limited paypal account. Powerseller ebay account. Need help
 

Yes...and it is 200 transactions, not items. If you have 199 transactions go trough Paypal and it was $35,000 worth then they will not send you 1099. It has to be 200+ transactions AND $20,000+

Re: Limited paypal account. Powerseller ebay account. Need help
 

Ok so i take it no need to file for taxes on those sales.
and my account mysteriously returned to good status

Re: Limited paypal account. Powerseller ebay account. Need help
 

What do you mean?

:noidea:

Re: Limited paypal account. Powerseller ebay account. Need help
 

That's a question you should ask a financial professional - the default setting in many aspects of life is to pay your taxes.

Re: Limited paypal account. Powerseller ebay account. Need help
 

Talk to an accountant about any tax issues