Can I add my bank account to my moms PP to transfer money to the bank?

lisurf · #1 10-13-2011

Hi. I have been using my moms paypal for the past few years. I would like to add MY bank account to her account to I can transfer money to my bank. I want to do this so I can claim the taxes at the end of the year (she doesnt want to claim any of it). It is my money after all.

I just added her bank acc. 2 days ago so would paypal think its sketchy if I add mine so soon?

lisurf · #2 10-13-2011

Hi. I am using my moms paypal(I am banned). I just added her bank account 2 days ago. Then just now I thought why not add my bank account? Will this work and can I withdraw funds from her PP to my bank? Will PP think its sketchy if I add 2 bank accounts in 2 days?

Also I want to do this so that I can claim the money to the government (my mom doesnt want to). thanks

durdajan · #3 10-13-2011

don't do anything until you're 100% sure what you'redoing! from what you said it seems it's very very wrong

be very careful with your real infos.

lisurf · #4 10-13-2011

ive been using her PP for about a year now I havent gotten limited yet....

durdajan · #5 10-13-2011

Quote:

Originally Posted by lisurf

ive been using her PP for about a year now I havent gotten limited yet....

well, I'm sorry, it's not clear when you were banned and what pc/ip you use, what data you used with the banned account.

generally, I think if you have one account working dont touch it if you dont want to lose it. make a new one with all new info, but dont link them both! read the book or keep asking before making any changes!!!! dont hurry!!

lisurf · #6 10-13-2011

Yeah thanks for tip. I was banned permanately from ebay and paypal about 3 years ago at my parents house (where I am now) I was selling bad stuff. I used the same computer to log into my moms paypal a few times I know but have been using her PP still for a year and no suspension or even limitation. It has the same address as my suspended one. I buy all my stuff on ebay (electronics) then fix it up and sell it back. I think ebay likes this. So I haven't withdrawn any money yet just build it a little and ive increased my inventory alot. But soon I plan to withdraw (about 300/week) and get an office and increase my volume alot. I just put my moms bank account on it to verify it but my rents dont want me to withdraw money to it cause they dont want the government to think they are making money. idunno what to do... I am a college graduate and work a minimum wage job and I cant see myself doin anything but buying and selling on ebay.

RedShootingStar · #7 10-13-2011

A clean bank account will work for any paypal, but once you hit the selling/money limit your mom will be responsible for paying her taxes, or you are going to screw her over.

lisurf · #8 10-13-2011

ok, so should I add my bank account to it? Does paypal see the owners name of the bank when they transfer money to it?

BiN4RY · #9 10-13-2011

It's perfectly normal for family members to share accounts like this. However, don't do it unless you have earned "trust" from Paypal (ie, bought and sold plenty of items in the past and never had any major issues)

lisurf · #10 10-14-2011

hey thanks for your response. That's good news cause I need some of the money.

Sandy D · #11 10-15-2011

Goodness.

It has nothing to do with whos money it is at all.

Using her pp is wrong in my opinion.

If you get hit with the pp request from the IRS it will be up to your Mom to pay the taxes, not you.

Since the pp is in her name she will be the one getting the tax request.

Just because you are using her info does not take the requirement away from her only because that is what you believe. She is still 100% responsible for all owed taxes if the money in going into her account.

It does not work that way.

What is it with people who want to use a family or friends info, pp and eb accounts etc? Why risk them if you screw it all up?

Why not build you own stealth accounts ( PUT OUT THE EFFORT TO DO SO ) and leave your Mom out of it.

If you lost your own account and that is the reason you are using hers then you will do it again and cost her the account and that is wrong. She might need it someday.

Many ways around doing this as long as you are willing to put in the word and willing to learn.

And you can spread your sales out over several accounts and not have to deal with problems for your Mom if something happens.

lisurf · #12 10-15-2011

Thanks. I lost my PP from selling illegal things but now I buy, repair, and sell elecronics (legal). I sell in a high competition field so feedback is very important I think. Maybe not though. How would you pay taxes on stealth accounts? Thanks for your advice

lisurf · #13 10-15-2011

Quote:

Originally Posted by RedShootingStar

A clean bank account will work for any paypal, but once you hit the selling/money limit your mom will be responsible for paying her taxes, or you are going to screw her over.

ok so I will keep selling with her name as long as im below the PP limit of $20K & 20 trans/year. I will try to pull some buyers away from PP with Google Checkout by manually invoicing them, which is very easy to do.

In the future I am going to make another eBay account in my name (banned) but use new info(legit address, legit phone number). Then use moms PP with that account, and try to get a merchant account going(in my name). This way I am legit with the government. (I want peace of mind).

Thoughts?

Thanks everyone for your input

Sandy D · #14 10-15-2011

The 200 and 20k is not exact.

Many of us have been hit with the IRS thing for much less.

I have had it as low as 11k and 13k and selling antiques and collectible items.

Once you hit the 200 items I believe it goes by the potential of said account of hitting the 20k mark because of the holiday season coming.

PP is making sure they have everything lined up for IRS when it comes time.

Why not buy a stealth from someone here or create several of your own stealths and spread out the sales?

Seems to be a lot easier then risking your Moms account.

lisurf · #15 10-16-2011

hm. I dont know thats just not my style. Maybe I can get married soon and put the business & PP in her name.... I don't do illegal stuff anymore I have nothing to hide just my past with paypal. ugh. I am also going to get on the phone with them again and beg some more. Prob won't work but might as well. Its stupid how stuff you did when you were 18 could follow you for the rest of your life.