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  #1  
Old 02-19-2020
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Default Paying Taxes on Paypal EIN

I got an PayPal account under another person's name but it's connected to an EIN in my name.

How do I go about paying taxes on this account?
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Old 02-19-2020
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Default Re: Paying Taxes on Paypal EIN

The same as you would pay taxes on any account. Take the info from your 1099-k and go from there.
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Old 02-20-2020
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Default Re: Paying Taxes on Paypal EIN

The 1099 from PayPal has the other person's name on it.
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Old 02-20-2020
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Default Re: Paying Taxes on Paypal EIN

As long as the correct tax id was used then you’ll be fine.
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Default Re: Paying Taxes on Paypal EIN

Quote:
Originally Posted by Justin Ghost View Post
The 1099 from PayPal has the other person's name on it.
Hopefully the person knows you are using their name...
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Default Re: Paying Taxes on Paypal EIN

Quote:
Originally Posted by Justin Ghost View Post
The 1099 from PayPal has the other person's name on it.
Then it isn't in the name of your EIN, as your original post states.
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Old 02-20-2020
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Default Re: Paying Taxes on Paypal EIN

My 1099's showed the stealth name the first year - it didn't make any difference. The accounts never had anything other than my EIN.

The next year they all showed my LLC names and I have no idea why.

Moral of the story - just use your 1099K's as they're intended (as reporting tools) and report those numbers on your tax return, minus your expenses.
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