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forum threadGray22 posted Feb 03, 2021 03:20 PM
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forum threadGray22 posted Feb 03, 2021 03:20 PM

Form 1099-K from PayPal

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I received Form 1099-K from PayPal. I wonder if somebody ever received this form and how it was treated by recepient?
Any way to get PayPal correct the amount reported to $0.00?
Only serious replies, please.
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I received Form 1099-K from PayPal. I wonder if somebody ever received this form and how it was treated by recepient?
Any way to get PayPal correct the amount reported to $0.00?
Only serious replies, please.

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Feb 03, 2021 03:36 PM
490 Posts
Joined Jan 2014
JohnB7118Feb 03, 2021 03:36 PM
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Feb 04, 2021 03:06 AM
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Joined Mar 2013
justiceprevailsFeb 04, 2021 03:06 AM
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Quote from Gray22 :
I received Form 1099-K from PayPal. I wonder if somebody ever received this form and how it was treated by recepient?
Any way to get PayPal correct the amount reported to $0.00?
Only serious replies, please.

You received the 1099K because you either received enough funds to cross a $ threshold, OR had more than X number of deposits. This has also been reported to the IRS. This will be expected to be reported on your taxes. When this happened to me, I had to gather all expenses, mileage, and costs of my Ebays items sales and filed as a small business to balance out the income. I don't think you have a chance of them changing the amount to 0. Sorry
Original Poster
Feb 04, 2021 03:28 PM
143 Posts
Joined Feb 2009
Gray22
Original Poster
Feb 04, 2021 03:28 PM
143 Posts
Well, that's what I thought.
Thank you very much.
Feb 13, 2021 09:50 PM
1,791 Posts
Joined Sep 2005
hongscFeb 13, 2021 09:50 PM
1,791 Posts
You might likely hit the threshold of $600. Just report in on your taxes as a 1099*. I received one from a FG company.

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