Storage Auctions
The Marketplace => eBay => Selling Venues => PayPal => Topic started by: Travis on January 25, 2014, 12:37:34 AM
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Has anyone who is expecting a 1099 from PayPal received it yet? Just wondering when they send them out?
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I got mine last year by end of January. Ugh. It was a surprise that I was not expecting!
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Just wondering when they send them out?
Usually you'll receive it the last week of January or the first week of February.
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mine came late january last year. i dont recall specifically about paypal but most sites you can login to your account and view your 1099 on the site vs waiting for it to come in the mail.
something to think about. not advising anyone dodge taxes but for those of you who dont like being 1099 by tehm take that into consideriation when selling. if your listing an expensive item but one with a low profit margin on say something for a couple grand for only $50 profit after fees or something like that ur really approaching the 20k mark fast when in reality your making very small profits.
obviously the 1099 i believe still is 20k and 200 sales so something to think about if your on the borderline and dont want to be 1099d
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mine came late january last year. i dont recall specifically about paypal but most sites you can login to your account and view your 1099 on the site vs waiting for it to come in the mail.
something to think about. not advising anyone dodge taxes but for those of you who dont like being 1099 by tehm take that into consideriation when selling. if your listing an expensive item but one with a low profit margin on say something for a couple grand for only $50 profit after fees or something like that ur really approaching the 20k mark fast when in reality your making very small profits.
obviously the 1099 i believe still is 20k and 200 sales so something to think about if your on the borderline and dont want to be 1099d
It helps if you have a PayPal account in your wife's name as well. ;) Just keep it under 20K!
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Another thing to consider...if you are keeping track of your EBAY sales so you can stop before the 20k mark, Paypal counts the total payments you receive including shipping. So if you had $19,500 in sales and your customers paid an additional $500 in shipping charges you will get a 1099.
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It helps if you have a PayPal account in your wife's name as well. ;) Just keep it under 20K!
Absolutely!
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I don't know, but I am sure you won't be getting one.
UMMMM, okay. AuctionsTX.com uses PayPal Payments Pro to process all of it's transactions. Any accounts with 20K or more in transactions receive 1099's. Although we made less than we did in 2012, we still had 6 figure sales in 2013.
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Just got an email from paypal this morning. Says to log in to paypal account and select history>Tax Documents to view and print my 2013 form 1099-K
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I just received my 1099 notification as well.
Anyway, found this link that explains everything about the new tax law for online sellers (IRC 6050W):
cms (dot) paypal (dot) com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W