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Old 01-05-2020
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Default Question about 20k limit

So, the limit is 20k and 200 transactions. Does withdraw funds to bank account counts as a transaction? Or it is just received payments that count.
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Old 01-05-2020
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Default Re: Question about 20k limit

$20k and 200 transactions are for US Paypal account,once you reach that threshold,it will send a 1099K copy to you and IRS.
You are not in USA,you wont get one.
That 20K and 200 transactions are for business transactions,not personal and it is a gross amount,if you refund,it is not excluded
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Default Re: Question about 20k limit

If you really gonna reach that limit you better start your stealth accounts!
seperating money and transactions or ban hammer comes in!
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Default Re: Question about 20k limit

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Originally Posted by agent006140 View Post
$20k and 200 transactions are for US Paypal account,once you reach that threshold,it will send a 1099K copy to you and IRS.
You are not in USA,you wont get one.
That 20K and 200 transactions are for business transactions,not personal and it is a gross amount,if you refund,it is not excluded
I've heard something about fatca formulary for non us accounts, have tou heard about it? Or I shoudn't be worried?
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Old 01-06-2020
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Default Re: Question about 20k limit

PayPal will put a stop on your eBay sales/payments right before it goes over 200 items and 20k limits

It will block the payments until you put your tax status and ssn on PayPal.
If you've already put your SSN in PayPal you will go over the limits and get a 1099

If you never put that tax/ssn info in, you won't get a 1099
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Default Re: Question about 20k limit

If you never put that tax/ssn info in, you won't get a 1099(if you did not exceed 200 tran and $20k)
BTW,when you get your 1099k,this is the gross sales and transaction counts,any refund you made,sales tax you have collected on your own(not ebay ,prior to 2019,we collect and remit sales tax) are not excluded,so you have to take that out to report gross sales.
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Default Re: Question about 20k limit

I don't use eBay. If It receive other payments as a freelancer It Will Still counts? I am not us citizen and my account is Brazilian
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