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Old 11-23-2011
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Default when does the paypal 20k reset?

Was just wondering when does the $20k reset, or does it even reset? or each accoutn will have to send documents for the taxes

Was thinking maybe end of the calender year but couldn't find this topic on forums

thank you
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Old 11-23-2011
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I would Imagine it would Reset on JAN 1,,The IRS is Certainly Ok with that but whether or not Paypal is I Cannot anwser
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Old 11-23-2011
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new year new taxes!
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Old 11-23-2011
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Thanks Askpin your Blessing for many.
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Old 11-23-2011
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funny, i was just going to ask this question.
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Old 11-24-2011
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Its been said on many postings. Its the IRS so its the IRS tax year which is always the same. Jan 1st to dec 31. Every time.

If you are planning on sitting on an account with say 15k after they asked for the ID and you just stopped selling before it hit the 2k, I will imagine that your account wont just be sitting jan 1st ready to be used with an empty account and start over.

They will most surely limit them still until you post the EIN/SSN with them.

also, any of you that upgraded to business, its been said many times now on the business news channels that paypal or anyone else has nothing keeping them from reporting every single dollar you make under a buisness account. they can and might report it all and just have to with the 20k for sure.

Not been addresses yet by paypal.
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Old 11-24-2011
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Anyone else think the 200 item limit is a little low? 20k is ok but 200 items??? Comon now, what if your selling low priced items. Your going to have to put your account to rest really early in the year.
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Old 11-24-2011
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Quote:
Originally Posted by LoopHole View Post
Anyone else think the 200 item limit is a little low? 20k is ok but 200 items??? Comon now, what if your selling low priced items. Your going to have to put your account to rest really early in the year.
hence the need for multiple accounts
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That's why it's both 20k and 200 sales

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Old 11-24-2011
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Be careful and prepared as I got hit with the letter at 13k on one account.
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Old 11-24-2011
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Just have multiple accounts the more the merrier stop being lazy ppl
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Old 12-19-2011
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Quote:
Originally Posted by raidar View Post
That's why it's both 20k and 200 sales

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I have been reading different opinions about this subject, even here on the forum. So, does a seller have to reach both the thresholds in order to be asked for SSN? I know PP does whatever it wants and the results vary, but can sellers go over the 200 transaction limit as long as they are under $20,000? As someone mentioned, if a seller lists low priced items they could do thousands of transactions without going over the $20,000.

Thanks!
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Old 12-19-2011
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Nice Avatar Mrs Rodz

Here's a better article that explains what pp is doing which is usally what they want.

PayPal Coy about Request for Seller Social Security Numbers

Basically that's why ebay has limits 10/$1000 meaning the most you could do in a year is 120 items and $12,000. Just use more then 1 account to expand.
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Old 12-20-2011
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question i have is would just making a new paypal with different info get around this? im not looking to avoid taxes, just looking to avoid the SSN/TIN/EIN requirements

i dont mean a new ebay/paypal combo either, i mean ebay 1 unlinked from paypal 1 and now using paypal 2
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Old 02-05-2015
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Default Re: when does the paypal 20k reset?

Its February and the Paypal warning to add tax information has not reset. Will the warning reset or I have to forget about that account if I am not providing papers?
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