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Old 09-27-2017
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Default Are 1099k' combined for multiple accounts?

Can someone help me with this scenario please? So, I have a legit Ebay/Paypal business account which receives it's 1099k every year. How does 1099k work when I use a stealth account with no EIN but receive payments through same Ebay account? What happens If they link both accounts, and stealth account receives 50 transactions worth $2,000. Will one 1099k show both account's information such as addresses, names, and how much each account received, etc?

Last edited by Inter1010; 09-27-2017 at 08:55 PM.
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Default Re: Are 1099k' combined for multiple accounts?

I don't understand the question. If you're using multiple Paypals with the same EIN then they'll be linked as soon as Paypal does 1099's this year.

I thought you were asking about filing for multiple LLC's. I get 3 1099's each year and forward the profits from all 3 to my personal tax return.
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Default Re: Are 1099k' combined for multiple accounts?

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Originally Posted by phaz0rz View Post
I don't understand the question. If you're using multiple Paypals with the same EIN then they'll be linked as soon as Paypal does 1099's this year.

I thought you were asking about filing for multiple LLC's. I get 3 1099's each year and forward the profits from all 3 to my personal tax return.
No. Stealth account doesn't have any EIN or SS. The only similarity is that payments are coming from the same Ebay account so chances are it will get linked. What happens then? Do they send me my 1099k and also add stealth account information on top of it?

Last edited by Inter1010; 09-27-2017 at 08:38 PM.
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Default Re: Are 1099k' combined for multiple accounts?

I'm not sure if they could legally add the sales from the non-EIN account to your 1099k since you haven't given a tax ID on the 2nd account. I guess it's possible if they establish a hard link.

Stealth info being on the 1099k doesn't matter though if that's your concern. All mine are sent with stealth addresses. For a single member LLC or sole proprietor, all that matters is you report the profits from the 1099 on your tax return. The EIN doesn't file it's own tax return so the address on your 1099 is irrelevant.
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Default Re: Are 1099k' combined for multiple accounts?

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Originally Posted by phaz0rz View Post
I'm not sure if they could legally add the sales from the non-EIN account to your 1099k since you haven't given a tax ID on the 2nd account. I guess it's possible if they establish a hard link.

Stealth info being on the 1099k doesn't matter though if that's your concern. All mine are sent with stealth addresses. For a single member LLC or sole proprietor, all that matters is you report the profits from the 1099 on your tax return. The EIN doesn't file it's own tax return so the address on your 1099 is irrelevant.
Got it. I just don't want my legit business' 1099k showing any information related to my stealth account. Basically, it's a slim chance that a single 1099k form can have multiple account information unless same EIN was used, correct? Thank you!

Last edited by Inter1010; 09-27-2017 at 08:52 PM.
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Old 09-28-2017
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Default Re: Are 1099k' combined for multiple accounts?

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Originally Posted by Inter1010 View Post
Got it. I just don't want my legit business' 1099k showing any information related to my stealth account. Basically, it's a slim chance that a single 1099k form can have multiple account information unless same EIN was used, correct? Thank you!
Correct. I'm fairly comfortable saying there's zero chance of that happening.

Once a long time ago before I got into stealth, I was selling on two different eB/PP's which both had my SSN. Both accounts were sent their own 1099. So I got two 1099's with the same Tax ID on them instead of them combining the two accounts on one 1099. Both accounts were linked/limited the same day the 1099 was sent out though. :(
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Default Re: Are 1099k' combined for multiple accounts?

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Originally Posted by phaz0rz View Post
Correct. I'm fairly comfortable saying there's zero chance of that happening.

Once a long time ago before I got into stealth, I was selling on two different eB/PP's which both had my SSN. Both accounts were sent their own 1099. So I got two 1099's with the same Tax ID on them instead of them combining the two accounts on one 1099. Both accounts were linked/limited the same day the 1099 was sent out though. :(
Thank you so much!
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