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re: **2014 1099K questions **
 

do i need a 1099-K from paypal to file the income ? or can i do so without the 1099-k from paypal ?

re: **2014 1099K questions **
 

Start checking your paypal inbox.

1099 incomings started.

Have got some.

nyc reported the arrival of one as well.

:mod:

re: **2014 1099K questions **
 

You can also call paypal and ask them what the gross total credit card processing was. It takes them less than 1 minute to get you the info.

re: **2014 1099K questions **
 

Finally got my 1099K and tried to file my taxes with HR Block Deluxe, however I can find nowhere to enter a 1099K, spent 2 hours online with their live chat only for her to finally tell me she couldn't help and I should try the tax community on hrblock.com, which I did and there is nothing about a 1099K on their either. This is the first year I have ever recieved one, anybody have an experience from in the past where these are entered at on a return?

re: **2014 1099K questions **
 

There is no place. Accountants simply throw them away. The 1099K is ONLY the gross amount of income reported to the IRS, so your gross income must meet or exceed all your 1099ks, k2, w2, etc combined....on your tax return.

So if you state your gross income is $100,000.00 and your 1099K says $105,020.31 the IRS knows something fishy is going on.

To be clear, there is no place on any IRS papers to add the total or add a form. It is simply a check and balance tool for IRS to monitor small business owners and self employed people.

re: **2014 1099K questions **
 

You have to file schedule C, claim all your deductions assuming you are a sole proprietor, and enter the result on line 12 . You don't want your 1099 income reported as gross income.

re: **2014 1099K questions **
 

I checked mine from last year the other day and it said something like mid Feb. I want to say it was like the 12th or the 15th.

But if you get a 1099k to respond to the other questions you need to file a schedule C as stated by other members. You can deduct your expenses and everything else. Hope you saved your receipts. If this is your first time you can probably claim it as a one time hobby. Next year you really need to go through and get your Sales Tax for your state, business license if necessary in your City/County, etc.

Not like it use to be. Have to learn to comply or stop doing what you doing. The old days are gone.

re: **2014 1099K questions **
 

Will update on my end. Got email saying my 1099K was available online today.

Does Paypal send electronic or hard tax notices .
 

Does Paypal send electronic or hard tax notices?

I ask because they have my real tax id but stealth address .

Re: Does Paypal send electronic or hard tax notices .
 

All I got so far was an email, telling me that I am 1099'ed and that I can view it through PP. I have not received anything in the mail, nor do I believe I am getting anything in the mail from how that email sounded. I am assuming here, but if you didn't get an email by now, I would think you do not have a 1099.

Re: Does Paypal send electronic or hard tax notices .
 

Did most receive them yet??? I just broke the threshold on one account but no email or mail yet

Re: Does Paypal send electronic or hard tax notices .
 

I received my email about a week ago or longer. I would think since they have to be postmarked by today (Jan 31st) then they would have to be emailed by today as well.

Re: Does Paypal send electronic or hard tax notices .
 

Got my 2011 1099k in the mail, the 2012 one last year never came via mail. So I had to print it off PayPal. I think they are suppose to send one to you in the mail. But it is just as easy to print it off PayPal. It is a one page form and a second page of Tax Disclaimers, etc.

Re: Does Paypal send electronic or hard tax notices .
 

Some of us have got them in the last 14 days.

http://www.aspkin.com/forums/subscri...d-emailed.html

Re: **2014 1099K questions **
 

Thanks GB I found the thread few minutes after my post

Re: **2014 1099K questions **
 

What?????

Is this a joke?

Are you saying no one using a stealth gets a 1099?

You need to spend more time reading and being active because this question tells me you are not keeping up with things.

Re: **2014 1099K questions **
 

Received my 1099 for my real account and I stayed under the radar for the stealth.

So they should be coming soon for both real and stealth accounts.

LOL--- I told you guys 2 years ago spreading sales over multiple accounts is the way to go.

I do however pay taxes on the profits from all accounts I sell on. Just dont need a 1099 to report your earnings in most cases.

A good book keeper comes in handy folks.

Re: **2014 1099K questions **
 

Yea I just almost made it under with all my accounts except one I just went over about $22,000 maybe little more for the year on that one, but that is in my real name and I think it's good to have at least one 1099 or w2 for the year anyway, but still waiting on that it will probably come over the weekend, I did receive a w2 from my job that I phased out completely in October, went from full, to partime, to weekends, every other weekend than to a spare tire and finally a triple time eBayer

Re: **2014 1099K questions **
 

Agreed.

You need at least one 1099 to take advantage of the write offs and deductions etc.

Re: **2014 1099K questions **
 

1099 for STEALTH A/C holder? or only for legit a/c holder with SS # attached?
Many of the stealth a/c holder do not have access to the address that are used including myself. But got 2 1099 for each of my legit a/c which was suspended last Dec 2013. like one member said " don't like to pay the interest to the govt"...lol But i guess I have to pay cause both of the a/c have ss # attached to it..Does anyone know if we should get any return from it or just pay ?...lol .I mean I paid over 4500 + seller fees both account combined and cost of supplies....Any advice/input will be highly appreciated....

Re: **2014 1099K questions **
 

That's what you need your accountant to figure out

Re: **2014 1099K questions **
 

You file form 1040 schedule C and enter the results from that schedule on line 12 of form 1040. The Info on form 1040 is your gross sales