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Default $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.




Image 2: Shows what is meant by sales but I think paypal is naturally misleading.


Reported or Not Reported? What say you?
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by Temple View Post
I made a few hundreds short of $20k

so I'm guessing I could have made over $20k
I'll reply to your question when you learn the correct terminology.
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Default 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.
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Default 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
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by SaiJin View Post
yea, next time, do 2/3 of that amount and use more accounts
No need to do 2/3 that amount.

Again, not reportable unless you cross both thresholds.
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Default 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
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by phaz0rz View Post
No need to do 2/3 that amount.

Again, not reportable unless you cross both thresholds.
Depends on the state, it seems.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by ebaystealth1974 View Post
Depends on the state, it seems.
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.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by phaz0rz View Post
Forgot about that, TBH. 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.
Don't blame you.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

Quote:
Originally Posted by phaz0rz View Post
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.
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?

Last edited by Temple; 3 Weeks Ago at 04:46 PM.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by ebaystealth1974 View Post
I'll reply to your question when you learn the correct terminology.
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.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

Quote:
Originally Posted by Temple View Post
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.
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.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by phaz0rz View Post
No need to do 2/3 that amount.

Again, not reportable unless you cross both thresholds.
Stop receiving money on that account and get a new Paypal account ASAP.
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Default 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.


Last edited by Temple; 2 Weeks Ago at 10:06 PM.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

Quote:
Originally Posted by Temple View Post
The picture below is of a second stealth account I made less than a week ago. .
That's nuts!!
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

Quote:
Originally Posted by Temple View Post
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.

Maybe there are some echeck payments not cleared yet ?
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by DigiCambio View Post
Maybe there are some echeck payments not cleared yet ?
Nope! Not even.
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

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Originally Posted by Temple View Post
Nope! Not even.
wow lucky guy...
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Default Re: $20k In Sales in stealth sales in less than a week! What Should I Do?

Quote:
Originally Posted by Temple View Post
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.




Image 2: Shows what is meant by sales but I think paypal is naturally misleading.


Reported or Not Reported? What say you?
so it is 3k per day? so it not limit you to shipment proof?
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