1099K

[mugsisme]

I had 195 transactions, and less than 20K in my PP account. I got an email saying PP prepared a 1099K for me, and submitted it to the IRS. I thought it had to be 200 transactions and more than 20K

 

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[2Minnesota]

Was PP the emailer? Did you go to PP website and see the 1099? Legally we have pay taxes even if sales don't hit the 200/$20,000 mark even if PP doesn't prepare a 1099 for us.

 

[trdhrdr007]

Was PP the emailer? Did you go to PP website and see the 1099? Legally we have pay taxes even if sales don't hit the 200/$20,000 mark even if PP doesn't prepare a 1099 for us.

That's the truth. The 1099 from Paypal is just part of the paper trail the IRS can follow if they are so inclined. I keep good records & pay taxes on income. If I didn't I dang sure wouldn't be talking about it.

 

[mugsisme]

never mind. I figured it out.

 

[NWpickin]

Just curious on what happened with your 1099. I am also under 20k in sales... I just got a letter from my bank saying there was an error with my social..... I guess they put it in wrong years ago when I original my signed up for checking/savings.... Is this normal protocol?

 

[diggummup]

Just curious on what happened with your 1099. I am also under 20k in sales... I just got a letter from my bank saying there was an error with my social..... I guess they put it in wrong years ago when I original my signed up for checking/savings.... Is this normal protocol?

Could be, as long as they didn't direct you to a website or tell you to call some phony number to update your information, lol.

 

[stefen]

Just curious on what happened with your 1099. I am also under 20k in sales... I just got a letter from my bank saying there was an error with my social..... I guess they put it in wrong years ago when I original my signed up for checking/savings.... Is this normal protocol?

Its normal if its Wells Fargo Bank...

 

[cyberdan]

Just curious on what happened with your 1099. I am also under 20k in sales... I just got a letter from my bank saying there was an error with my social..... I guess they put it in wrong years ago when I original my signed up for checking/savings.... Is this normal protocol?

That is not as funny as mine. I got my SS number in the middle 60's and I got a typewritten SS card. Then some time in the last 50 years my name and number got entered into a computer data base and they spelled my first name wrong. It is Daniel and someone typed Danial. I never found out about it till I had to file for medicare (yes I am an old man) That error messed thing up with my new insurance carrier. I think it is all cleared up now, maybe.

 

[Beachkid23]

I would like my 1099 but so far PayPal has not produced one. Only 2014 is available. I'm pretty sure I'm getting one. Way over $20k in sales.

 

[trdhrdr007]

I got mine at least a week ago.

 

[Drmad7]

$15K and 169 transactions. Will be deducting every legal expense possible. First time getting one and didn't realize they didn't deduct any refunds/cancelations.

 

[Beachkid23]

Got it. I'm gonna owe this year.. Yea. [emoji603][emoji380][emoji173]️[emoji33]