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  #1  
Old 02-01-2017
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Default 1099-k on personal account

Hello,
My account is not a business and is personal with my real SS info.
Where can I locate if I was sent a 1099-k ?
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Old 02-01-2017
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Default Re: 1099-k on personal account

I got a email about a week ago informing me the 1099k was ready and you can go into paypal and it will be under tax documents if you got sent one.
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Old 02-01-2017
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Default Re: 1099-k on personal account

but where do I locate 'tax documents' ... mine is a personal account.
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Old 02-01-2017
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Default Re: 1099-k on personal account

They don't send it, you have to go to PP and download and print it.

Look through the tabs, it's there. Depending on browser it could be in different spots.
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Old 02-02-2017
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Default Re: 1099-k on personal account

Quote:
Originally Posted by ghackett5 View Post
but where do I locate 'tax documents' ... mine is a personal account.
Mine is a personal account too. Go to paypal>activity>statements>tax documents.
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Old 02-02-2017
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Default Re: 1099-k on personal account

but would I get an email from paypal?
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Old 02-02-2017
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Default Re: 1099-k on personal account

Quote:
Originally Posted by ghackett5 View Post
but would I get an email from paypal?

Generally you do get an email from Paypal when your 1099 is ready, but I can't say for certain if the 1099 is usually included in the email because I've always gone into Paypal to download it. "yomama"'s post accurately describes where the docs can be found. If you can't find one in that section then either Paypal hasn't created your 1099 yet (which I doubt since it's now Feb.), or you didn't pass $20,000 in 2016 and they aren't going to send you one.
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Old 02-04-2017
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Default Re: 1099-k on personal account

I only took in $11,200 and that sent me a fricking tax from for it. WHAT????
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Old 02-05-2017
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Default Re: 1099-k on personal account

Quote:
Originally Posted by Kajunrook View Post
I only took in $11,200 and that sent me a fricking tax from for it. WHAT????
There has to be more to the story. The legislation which requires Paypal to send out 1099's doesn't leave any room for interpretation. If you exceed 200 sales and $20,000 then you're issued a 1099, plain and simple.

Did you actually receive a 1099-k, or do you just have summaries available in your Paypal reporting center?

If what you're saying is true and you're certain you've been issued a 1099 without exceeding $20k, then you need to call Paypal and see why they made that for you.
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Old 02-06-2017
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Default Re: 1099-k on personal account

Absolutely positively the 20K is a fallacy. Got two Tax forms for two separateaccounts, one $11,200 and one $11,600.
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Old 02-06-2017
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Default Re: 1099-k on personal account

Are these 2 accounts connected/linked somehow to one person? Otherwise, you should not have been sent a 1099
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Old 02-06-2017
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Default Re: 1099-k on personal account

the accounts are linked and this moron is trying to spread nonsense with zero proof.
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Old 02-06-2017
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Default Re: 1099-k on personal account

It is possible that he is in a panic. I dont think he is trying to spread nonsense intentionally. I also have never heard, nor seen this. This is all controlled by the IRS, not PayPal. The IRS demands all payment processors that have clients who have 200/+ transaction and $20k/+ sales in a calendar year (January 1st - December 31st) file a 1099 and send to the IRS and the client.

PayPal has no reason to 1099 you. This is not a fallacy.
Are you sure these are both 1099s?
Are these accounts linked somehow so Paypal knows they are the same person?
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Old 02-06-2017
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Default Re: 1099-k on personal account

Quote:
Originally Posted by bjammin View Post
Are these accounts linked somehow so Paypal knows they are the same person?
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Old 02-06-2017
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Default Re: 1099-k on personal account

Dudes there is no panic on my end. I have deductions that lower the $37,000 I made on two separate paypals that bring them down to around $4000 and on my tax level $4000 is like nothing to me. I studiously kept both accounts under $15,000 so as not to have a tax form. Here is the copy of email they sent to me. So when I use the word fallacy REST ASSURED I know what I speak of. I kinda resent you guys tone, like I do not know what I am talking about, when it is OBVIOUS by reading the below letter that I do.

As required by the IRS, we've prepared a Form 1099-K for you. This form summarizes the gross payments you received through PayPal for the sales of goods or services during 2016. This form is available on PayPal.com.

Here's how to view and print your Form 1099-K:
1.Log in to your PayPal account.
2.Select History > Tax Documents.

You will also receive this form in the postal mail soon, if you haven't received it already. We send this information to the IRS as well. If you reside in California, Hawaii or New York, we also report this information to your state's tax authority.
If you need more information, see New Tax Law for Online Sellers.
Sincerely,
PayPal
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  #16  
Old 02-07-2017
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Default Re: 1099-k on personal account

I am not giving you a tone. I am just trying to make sense of this and be helpful. Its not in my nature to be spiteful unless the other person is just being straight out annoying or malicious. Sorry if I gave that vibe.
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Old 02-07-2017
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Default Re: 1099-k on personal account

With them sending you 1099s, do you have a tax ID number on both of these PP accounts?
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  #18  
Old 02-07-2017
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Default Re: 1099-k on personal account

Only reasonable explanation is the same tax ID is on both accounts. Paypal doesn't send out a 1099 if a tax ID has only brought in $11k.

A few years ago I had two personal accounts with my SSN, and this same thing happened. Neither account passed $20k by itself but the combined total was around $25k. Since both accounts had the same SSN both were issued 1099's (and then limited).
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Old 02-08-2017
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Default Re: 1099-k on personal account

Read what he says: I have deductions that lower the $37,000 I made

PP doesn't care about your deductions, just your GROSS.

Deductions are for your tax forms filed with the IRS.

If these accounts are stealth, and they do send your forms, they will go to the stealth address.

If they sent / created the 1099 and you kept both accounts below 15K, they are linked, no doubts.

Or somehow you've overlooked something.

You can look at the 1099's online and see if they have any common information, but odds are they do or are over the limit somehow.
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  #20  
Old 03-15-2018
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Default Re: 1099-k on personal account

Quote:
Originally Posted by phaz0rz View Post
Only reasonable explanation is the same tax ID is on both accounts. Paypal doesn't send out a 1099 if a tax ID has only brought in $11k.

A few years ago I had two personal accounts with my SSN, and this same thing happened. Neither account passed $20k by itself but the combined total was around $25k. Since both accounts had the same SSN both were issued 1099's (and then limited).
Please advise if it is still ok to have and operate two Personal PayPal accounts. Have only strong purchase activity on one. Just opened 2nd personal account to keep casual sales separate but see language directing all sales to be made from business accounts only.


Pharz -
Know this thread is of a different subject, however your above response is the closest reference I have found to my delemma. Asking forgiveness if my question is in bad form - still learning "how to's" on forum navigation.
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