File Tax on Stealth info MP

[stealthnorris]

Hi,

I bought a stealth account that was already registered in MP.
Fortunately this account was able to survive, now I'm worried how I'm supposed to pay taxes on that when a 1099 is sent to this "stealth" info

I plan on creating an EIN to attach to the account ASAP. But how do I deal with the income that was already made out to the "stealth" info before attaching my EIN?

[Steveo036940]

Originally Posted by stealthnorris

Hi,

I bought a stealth account that was already registered in MP.
Fortunately this account was able to survive, now I'm worried how I'm supposed to pay taxes on that when a 1099 is sent to this "stealth" info

I plan on creating an EIN to attach to the account ASAP. But how do I deal with the income that was already made out to the "stealth" info before attaching my EIN?

If it was already registered for MP when you bought it, that means it has somebody else's real name, SSN and DOB on it. Sounds like identity theft.
Unlike PayPal, MP does mail 1099's out every year. If the person is real (which is required to get approved for MP), they'll get the 1099. If I ever received a 1099 out of the blue, I'd get the authorities involved.
Instead of asking for advice on how to pay taxes for your earnings, you may want to ask advice on how to stay out of jail.
One thing that puzzles me is how you attached your own bank account to this. Mismatched bank accounts don't work on MP as it's a part of the verification process.
Oh well, good luck

[yankee]

Originally Posted by stealthnorris

I plan on creating an EIN to attach to the account ASAP. But how do I deal with the income that was already made out to the "stealth" info before attaching my EIN?

When you change the number, the entire years income goes to that number. So as long as you do it before the end of December, You will get the 1099k

[hercules2]

Originally Posted by Steveo036940

If it was already registered for MP when you bought it, that means it has somebody else's real name, SSN and DOB on it. Sounds like identity theft.
Unlike PayPal, MP does mail 1099's out every year. If the person is real (which is required to get approved for MP), they'll get the 1099. If I ever received a 1099 out of the blue, I'd get the authorities involved.
Instead of asking for advice on how to pay taxes for your earnings, you may want to ask advice on how to stay out of jail.
One thing that puzzles me is how you attached your own bank account to this. Mismatched bank accounts don't work on MP as it's a part of the verification process.
Oh well, good luck

So now all of my stealth addresses I left on my MP accts will be mailed a 1099? Almost all of my stealth addresses don't exist!

[yankee]

Originally Posted by hercules2

So now all of my stealth addresses I left on my MP accts will be mailed a 1099? Almost all of my stealth addresses don't exist!

They dont typically mail 1099k

[Steveo036940]

Originally Posted by yankee

They dont typically mail 1099k

I had three accounts on MP at the end of last year, all three were mailed a 1099k.
3 for 3... I assumed this was typical, especially talking with friends who all received one in the mail.
They are addressed from Ebay with a California return address in case anyone wants to know what to look for in early February.

[yankee]

Originally Posted by Steveo036940

I had three accounts on MP at the end of last year, all three were mailed a 1099k.
3 for 3... I assumed this was typical, especially talking with friends who all received one in the mail.
They are addressed from Ebay with a California return address in case anyone wants to know what to look for in early February.

Managed payments sent you 1099k in the mail?

[stealthnorris]

Originally Posted by Steveo036940

I had three accounts on MP at the end of last year, all three were mailed a 1099k.
3 for 3... I assumed this was typical, especially talking with friends who all received one in the mail.
They are addressed from Ebay with a California return address in case anyone wants to know what to look for in early February.

Just like Yankee,

I also find this hard to believe
I have never heard of 1099k's being mailed to the address listed.

[Steveo036940]

Originally Posted by yankee

Managed payments sent you 1099k in the mail?

Three... I received three in the mail, one for each account that I converted to MP.

[agent006140]

with Paypal,you have a choice,either print it online or have a hard copy mailed to you.,

[agent006140]

Originally Posted by Steveo036940

If it was already registered for MP when you bought it, that means it has somebody else's real name, SSN and DOB on it. Sounds like identity theft.
Unlike PayPal, MP does mail 1099's out every year. If the person is real (which is required to get approved for MP), they'll get the 1099. If I ever received a 1099 out of the blue, I'd get the authorities involved.
Instead of asking for advice on how to pay taxes for your earnings, you may want to ask advice on how to stay out of jail.
One thing that puzzles me is how you attached your own bank account to this. Mismatched bank accounts don't work on MP as it's a part of the verification process.
Oh well, good luck

if the Ebay account he bought has MP ,then there must be a bank account attached already.
May be he just changed that bank account to his own account?