TIN filled out by paypal on 1099-K but i never gave any info

livelifewild · #1 01-26-2021

HEY everyone I am not sure what happened, as I never had this issue before. I received a notice that I have a 1099-k waiting for me in a paypal account I barely used. I only had $3,355.34 in sales on the account for the whole year of 2020. However I downloaded the 1099-k and they have all the stealth info on it, the name and address. But they also have the TIN section filled out. It has an actual number entered in that field. THAT I DID NOT PROVIDE.

I have no idea what to do. I have no problem whatsoever claiming the income and paying the taxes but how do I go about this if its in all stealth information and with paypal having taken it upon themselves to fill out the TIN section???

Form 1099-K

I dont want the IRS coming after a fictitious person or headaches with stealth over less then $4k. Any help or advice would be greatly appreciated.

livelifewild · #2 01-26-2021

Do I go back to that paypal and change all the information to my real info and claim the 1099-k as my own, or request them to reissue? Or what? I am really freaking out here. ANY HELP IS MUCH APPRECIATED!

livelifewild · #3 01-26-2021

Okay quick correction, I made a mistake the TIN is not filled out for me there is a FILER'S TIN (which is filled out obvious now its paypals info lol)
and
PAYEE’S TIN which is blank.

So since the payee's tin is blank and it still is technically under $20k, do I still report it or try to claim this 1099-k as mine? It was for the state of VA, and I am in NY. So I dont know how to go about making this right? please help

livelifewild · #4 01-26-2021

Okay one more thing lol I think I may have answered my own questions, but just want confirmation from the vets on here. Obviously I panicked ha.
But since its under $20k it wont be an issue with irs, it would then be an issue of sales tax to the state, in this case VA. However since all the sales on the 1099-k from paypal were thru ebay, wouldnt ebay have already done the sales tax collection on their end? I mean ebay handles sales tax on their end so.. Then I should be perfectly okay in just ignoring the 1099-k and not having to do anything with it? is this correct? thanks

agent006140 · #5 01-26-2021

ebay started collecting sales tax for the sellers so we dont have to,it started sometime last year,cant recall which month.
One copy of the 1099k goes to IRS and IRS will post your sales number to your TIN account.
Just because one has sales does not mean he owes taxes,you could have a loss,for all we know.
I would do nothing but I wont use that TIN anymore,as IRS gathers more sales $ from your 1099k each year,it will eventually ask you if you have forgotten to file a return.

livelifewild · #6 01-27-2021

Just a little more info the tin on the 1099k was the senders information the receivers tin was blank because I never supplied any of that kind of information so without them having any kind of social or TIN number and the fact that it was low sales and eBay already did the sales tax I should just leave it alone and not do anything with it is that correct

yankee · #7 01-27-2021

It is because VA has a low threshold. Such as MA where is it $300

I would not worry about it at all but I would stop making accounts in liberal states altogether. Pick better states is my suggestion. Stay away from MA, VT, NY, IL, CA at the very least if these issues are worrisome.

Elliot · #8 02-01-2021

Quote:

Originally Posted by yankee

............ Stay away from MA, VT, NY, IL, CA at the very least if these issues are worrisome.

I think I read in another post that Virginia is another state that should be in that list...? Are there others that I don't know of, or do the experienced here think that makes a pretty complete list of states (for now)?

rsot · #9 02-01-2021

Quote:

Originally Posted by livelifewild

Do I go back to that paypal and change all the information to my real info...

Just as a side, don't do this - you can't simply change registration info without expecting issues

yankee · #10 02-02-2021

Quote:

Originally Posted by Elliot

I think I read in another post that Virginia is another state that should be in that list...? Are there others that I don't know of, or do the experienced here think that makes a pretty complete list of states (for now)?

His account in question is in Virginia so I did not list it.

Great states are any of the few that do not have any state income tax. Then after that, it gets questionable.