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Old 02-03-2012, 11:46 AM
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Default IRS taxes and paypal




I want to know if I pay taxes on what I sell on ebay with paypal? Will paypal tell IRS about me?

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Old 02-05-2012, 11:19 PM
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Quote:
Originally Posted by Vladimir View Post
I want to know if I pay taxes on what I sell on ebay with paypal? Will paypal tell IRS about me?
Well this all depends on what your goals are. Do you have an ebay account with your Real information on it, then yes paypal will tell you once you hit a certain sales amount for a year which I believe is around $20k

If its on Stealth information, well then, how will paypal know its you that has to pay the tax if they cant find you?

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Old 02-07-2012, 12:19 PM
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Paypal will use your tax ID number to send tax Form 1099-K to you and the IRS when the payments you recive exceed both of these mile stones in a calendar year:
$20,000 in gross payment volume for goods or services
200 payments for goods or services

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Old 02-15-2012, 12:05 PM
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first I pay paypal, then ebay takes out their fees and now the IRS wants a piece of my money? there is nothing left for me!!!!!
for all the work I put in to list, pack, ship, update and supply ebay/paypal with my life story in document form it is like a full time job with a part time pay.

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Old 02-16-2012, 12:29 PM
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Quote:
Originally Posted by NYcashcow View Post
first I pay paypal, then ebay takes out their fees and now the IRS wants a piece of my money? there is nothing left for me!!!!!
for all the work I put in to list, pack, ship, update and supply ebay/paypal with my life story in document form it is like a full time job with a part time pay.
AMEM lol. doesn't quite seem worth it sometimes eh?

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