GreenBean | 07-06-2012 03:55 AM | You are really misunderstanding a LOT of this.
Bear with me as I try to explain.
paypal has a record of ALL user3657's transactions.
paypal has a requirement from the IRS that transactions require reporting.
Obviously there is an algorithm that creates this.
The activity of user3657's transactions may give rise to a request of the 1099.
Each report/request differs. That means the amounts differ.
Over the tax year the request could come at any time ( more or less). http://www.aspkin.com/forums/paypal-...-usa-only.html
Have a read of the above thread too.
It's not as black or white as you think.
Of course you should/MUST take professional advice from a taxation specialist for this.
Hope this helps :juggle: |