Friends & Family Money - Count Towards $20K/200 Trans? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk > Paypal Limited

Paypal Limited PayPal Limited Account A general forum on PayPal limitations and how to either lift them or create new accounts.

Reply
 
Thread Tools
  #1  
Old 03-02-2016
Junior Member
 
Join Date: Mar 2016
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 27%
iTrader: (0)
Default Friends & Family Money - Count Towards $20K/200 Trans?

Does money received as Friends and Family count towards the $20,000/200 transaction barrier for tax purposes? Thanks for the help.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 03-07-2016
IGNAS's Avatar
Senior Member
 
Join Date: Jan 2015
Posts: 396
Thanks: 177
Thanked 104 Times in 69 Posts
Activity: 10%
Longevity: 36%
iTrader: (7)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Found it within 2 mins on G.

"No. Personal payments that are not payments for the sale of goods or services
will not be counted when determining if the IRS thresholds have been
reached and will not be included on your Form 1099-K if you exceed the thresholds."
Reply With Quote
  #3  
Old 03-07-2016
MU
 
Join Date: Mar 2016
Posts: 3
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 27%
iTrader: (0)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Will my paypal suspend if i daily recieve friend and family payment ?
Reply With Quote
  #4  
Old 03-07-2016
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,243
Thanks: 1,627
Thanked 2,851 Times in 2,172 Posts
Activity: 94%
Longevity: 29%
iTrader: (2)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Haha they don't count towards the threshold but they'll get your account shut down in a quick minute.
Reply With Quote
  #5  
Old 03-07-2016
spindoctor's Avatar
Senior Member
 
Join Date: May 2015
Posts: 514
Thanks: 195
Thanked 148 Times in 108 Posts
Activity: 26%
Longevity: 34%
iTrader: (0)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Quote:
Originally Posted by Simpson View Post
Will my paypal suspend if i daily recieve friend and family payment ?
Yes, more then likely. Look at it from pay pals view, how many PayPal payments would you really get from friends? ...
Reply With Quote
  #6  
Old 03-07-2016
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,243
Thanks: 1,627
Thanked 2,851 Times in 2,172 Posts
Activity: 94%
Longevity: 29%
iTrader: (2)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Quote:
Originally Posted by Simpson View Post
Will my paypal suspend if i daily recieve friend and family payment ?
Not more than likely, they will limit your account FOR SURE if you receive daily F&F payments. Paypal is a payment processor and only makes money by collecting transaction fees. Therefore, they do not like when users try to bypass paying fees.

Pay them their cut or your account will die
Reply With Quote
  #7  
Old 03-08-2016
MU
 
Join Date: Mar 2016
Posts: 27
Thanks: 0
Thanked 5 Times in 5 Posts
Activity: 0%
Longevity: 27%
iTrader: (0)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

I also recevied many payment as a friend and family ..
it will risk my account or not ? because in current month i have received approx $1000 as an personal payment and mostly are for goods payment
Reply With Quote
  #8  
Old 03-08-2016
Junior Member
 
Join Date: Feb 2015
Posts: 211
Thanks: 4
Thanked 14 Times in 13 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

I sent and receive over 8k in payments within the last 3 months via friends and family and I never had a problem
Reply With Quote
  #9  
Old 03-08-2016
spindoctor's Avatar
Senior Member
 
Join Date: May 2015
Posts: 514
Thanks: 195
Thanked 148 Times in 108 Posts
Activity: 26%
Longevity: 34%
iTrader: (0)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Quote:
Originally Posted by golferman View Post
I sent and receive over 8k in payments within the last 3 months via friends and family and I never had a problem
I think they'll catch on eventually. It won't be a long term thing. Eventually they'll click on and your account will then go
Reply With Quote
  #10  
Old 03-08-2016
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,243
Thanks: 1,627
Thanked 2,851 Times in 2,172 Posts
Activity: 94%
Longevity: 29%
iTrader: (2)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

It's just not worth it, especially if you're really receiving payments like that on the account. You will lose your account sooner or later, both of you.

Why not just pay them their cut and be safe about it? They take like $95 on a $3500 transaction, is that really so bad?? I know it's not as good as Western Union's fee but it's still worth paying for the sake of your account.
Reply With Quote
The Following 2 Users Say Thank You to phaz0rz For This Useful Post:
dealagreeproceed (03-08-2016), spindoctor (03-08-2016)
  #11  
Old 03-08-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 57,920
Thanks: 4,602
Thanked 7,056 Times in 6,427 Posts
Activity: 100%
Longevity: 76%
iTrader: (7)
Default Re: Friends & Family Money - Count Towards $20K/200 Trans?

Not worth it in the long run OP
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Friends & Family Payments christianmend PayPal Talk 14 02-29-2016 05:25 PM
Do you tell your friends/family what you do? sdot10 eBay Discussion! 45 04-01-2015 11:28 AM
Which approach is better? Stealths vs. Friends/Family sumjuaninca eBay Discussion! 6 11-10-2013 05:45 PM
When Family/Friends ask what you do for a living what do you say? AyeDGAF Everything Else 28 04-14-2012 03:18 PM


Aspkin Group

All times are GMT -5. The time now is 11:19 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts