eBay Suspended & PayPal Limited Forums - 200 transaction / $20,000 Tax limit

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- - 200 transaction / $20,000 Tax limit (https://www.aspkin.com/forums/paypal-talk/132383-200-transaction-20-000-tax-limit.html)

jmag91

12-28-2019 04:00 PM

200 transaction / $20,000 Tax limit

Hey everyone,

Does this reset to 0 with the calendar year?

Or does it go by if you've sold that amount in 12 consecutive months?

Thanks in advance,
Jmag

chicagoIL

12-28-2019 06:43 PM

Re: 200 transaction / $20,000 Tax limit

It's per calendar year so on Jan 1 your account starts over again at $0.
It's based on US tax year so Jan 1- Dec 31

jmag91

12-28-2019 07:48 PM

Re: 200 transaction / $20,000 Tax limit

Quote:

Originally Posted by chicagoIL (Post 1057983)

It's per calendar year so on Jan 1 your account starts over again at $0.
It's based on US tax year so Jan 1- Dec 31

Fantastic, thank you! :yar:

rsot	12-28-2019 08:27 PM

Re: 200 transaction / $20,000 Tax limit

Just be wise about the operations jmag91 :thumb:

jmag91

12-29-2019 01:14 AM

Re: 200 transaction / $20,000 Tax limit

Quote:

Originally Posted by rsot (Post 1057990)

Just be wise about the operations jmag91 :thumb:

What do you mean, rsot?

slokor

12-29-2019 01:21 AM

Re: 200 transaction / $20,000 Tax limit

Don't max out that amount in the first 2-3 months. That limit can be 'projected' based on your current sales meaning youll get hit by a request for SSN/EIN much sooner than youd expect.

jmag91

12-30-2019 02:30 AM

Re: 200 transaction / $20,000 Tax limit

Unbelievable. I hit 150 transactions today, with 2 days left in the year, and got the email sent to me.

Un - freakin - believable. I'm livid.

SaiJin

12-30-2019 02:38 AM

Re: 200 transaction / $20,000 Tax limit

my personal rule is to hit 60% max of the 200/20k

I don't even hit that though.

jmag91

12-30-2019 03:29 AM

Re: 200 transaction / $20,000 Tax limit

Quote:

Originally Posted by SaiJin (Post 1058144)

my personal rule is to hit 60% max of the 200/20k

I don't even hit that though.

So for the entire year you only do 120 transactions or 12k on each account?

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