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$20k In Sales in stealth sales in less than a week! What Should I Do?
 

See the screenshots. I made a few hundreds short of $20k and I made over 200 sales according to my paypal reports. The reports are not clear enough for the average dummy like me so I'm guessing I could have made over $20k and may have this information sent to the IRS. I have since stop receiving sales on this stealth account and have moved to the next one.

Image 1: Shows the sales.
https://i.imgur.com/WY5uqzC.png



Image 2: Shows what is meant by sales but I think paypal is naturally misleading.
https://i.imgur.com/MHbQc48.png

Reported or Not Reported? What say you?

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

I'll reply to your question when you learn the correct terminology. :clap:

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Not reported. You have to go over 200 transactions and $20,000 for it to be reported.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

yea, next time, do 2/3 of that amount and use more accounts

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

No need to do 2/3 that amount.

Again, not reportable unless you cross both thresholds.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

he should stop using that accountr to collect payments

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Depends on the state, it seems.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Forgot about that, TBH. Massachusetts and a few other states require reporting for what I think is any amount. I abandoned my accounts in those certain states when the PP's started generating 1099's without a tax ID for totals less than $20k.

To clarify, it's not reportable on the federal level unless you cross both thresholds.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Don't blame you.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

So which state is best for stealth accounts? Delaware? The account above is Pennsylvania. Would this mean PayPal would report to the state without my permission. I'm confused about the state requirements. Always only worried about it from a federal perspective.

Also would I have to worry if it gets reported to the state?

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

What I'm saying is I made just short of $20k "according" to the paypal report shown above but the accuracy of these reports do not have my 100% trust so I'm assume there may be things not included on the report that may contribute to tipping the total amount of revenue over $20k. It really wasn't that difficult to understand what's meant.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Lemme spell it out for you. Paypal doesn't know/calculate/care how much you made. Only how much you sold. Learn the difference for future reference, please. :)

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Stop receiving money on that account and get a new Paypal account ASAP.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

So if this isn't Proof That Paypal Reports Is Inaccurate I don't know what is. The picture below is of a second stealth account I made less than a week ago. The point I'm making with this picture is simple; If a report says I only sold $19,500 and/or 195 items it may be inaccurate and I believe will still be reported to the IRS because paypal's reports do not show us the full scale.

https://i.imgur.com/jERPZfY.png

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

That's nuts!!

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Maybe there are some echeck payments not cleared yet ?

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

Nope! Not even.

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

wow lucky guy...

Re: $20k In Sales in stealth sales in less than a week! What Should I Do?
 

so it is 3k per day? so it not limit you to shipment proof?