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-   -   1099-k form with only $3k sales? (https://www.aspkin.com/forums/paypal-talk/123623-1099-k-form-only-3k-sales.html)

tim348 01-30-2019 02:20 PM

1099-k form with only $3k sales?
 
Why would Paypal send a 1099-k form if I sold under 200 items and only $3200 total sales? That seems pretty odd.

yankee 01-30-2019 02:23 PM

Re: 1099-k form with only $3k sales?
 
I have one $37,000 ish and 52 transactions. MA address. What state was your account in?

phaz0rz 01-30-2019 02:31 PM

Re: 1099-k form with only $3k sales?
 
99.9% chance it's because you're using a VT or MA account.

hypothamus 01-30-2019 10:45 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by tim348 (Post 975118)
Why would Paypal send a 1099-k form if I sold under 200 items and only $3200 total sales? That seems pretty odd.

why is that a problem for you? Stealth or no stealth, I am sure you will report all your sales on your tax return, right ?

treysupreme 01-30-2019 11:39 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by yankee (Post 975119)
I have one $37,000 ish and 52 transactions. MA address. What state was your account in?

Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?

Sunspot144 01-31-2019 12:01 AM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by treysupreme (Post 975205)
Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?

AND. Have to meet both.

VT and MA have it so once you've done $600 (doesnt matter # of sales) you get 1099K.

martyjump 01-31-2019 01:14 AM

Re: 1099-k form with only $3k sales?
 
The great states of MA and VT. This is what liberal policies get you. $600 in sales and a 1099K :bounce:

cblount1993 01-31-2019 01:21 AM

Re: 1099-k form with only $3k sales?
 
also recieved one for 2018..

Transactions: 184
Only did $4,800
March:1,100
April:3,700

Account, from California

pperry 01-31-2019 02:55 AM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by cblount1993 (Post 975218)
also recieved one for 2018..

Transactions: 184
Only did $4,800
March:1,100
April:3,700

Account, from California

Is this something new for CA? Did they ask for ssn on paypal?

phaz0rz 01-31-2019 07:45 AM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by treysupreme (Post 975205)
Hold up, its $20k AND 200 transactions? I thought it was either/or. So I can do $40K in 150 transactions and not generate a 1099K if I'm in say....Florida?

Yes, correct.

nodeal 01-31-2019 07:47 AM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by cblount1993 (Post 975218)
also recieved one for 2018..

Transactions: 184
Only did $4,800
March:1,100
April:3,700

Account, from California

Do you have another pp account making sales linked under same info?

phaz0rz 01-31-2019 07:48 AM

Re: 1099-k form with only $3k sales?
 
I wouldn't be surprised if California started doing the same thing as VT and MA this year.

nodeal 01-31-2019 08:05 AM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by phaz0rz (Post 975258)
I wouldn't be surprised if California started doing the same thing as VT and MA this year.

I have stealth accounts in CA. The Tax ID warning/ limitation happened at the usual 200/20k thresholds. Whereas my accounts in MA and VT got the notification after the first couple of sales. So in that regard CA is not following the same steps as VT and MA.

Sunspot144 01-31-2019 01:34 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by phaz0rz (Post 975258)
I wouldn't be surprised if California started doing the same thing as VT and MA this year.

Not filing your 1099K might cause cancer.

phaz0rz 01-31-2019 02:37 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by nodeal (Post 975262)
I have stealth accounts in CA. The Tax ID warning/ limitation happened at the usual 200/20k thresholds. Whereas my accounts in MA and VT got the notification after the first couple of sales. So in that regard CA is not following the same steps as VT and MA.

The only one I have is a business account so I can't really judge..

I wonder what's going on then. I think I've seen at least 2 or 3 guys on the forum with CA (California) accounts saying the same thing.

:noidea:

phaz0rz 01-31-2019 02:37 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by Sunspot144 (Post 975344)
Not filing your 1099K might cause cancer.

5G is going to give us all cancer way before that "might" may be a concern.

:lol:

Sunspot144 01-31-2019 03:26 PM

Re: 1099-k form with only $3k sales?
 
Quote:

Originally Posted by phaz0rz (Post 975350)
5G is going to give us all cancer way before that "might" may be a concern.

:lol:

You should not file your 1099K while pregnant, nursing or on bath salts.

nodeal 01-31-2019 04:37 PM

Re: 1099-k form with only $3k sales?
 
*****EDIT********

The transaction history was not loading properly on my pp accounts. It looks like after going through my CA accounts I get a Tax ID limitation at the standard approximate of 190-200 transactions.


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