Does the 1099K Tax form include refunds and fees?

CalmMix
Contributor
Contributor

Just wanted to understand if the 1099k tax form from Paypal includes refunds and fees. I download all my transactions into Quicken and the totals do not match up.

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2 REPLIES 2

eQSL
Contributor
Contributor

NO, they report the Gross. And that caused me to get AUDITED. Beware. You are reporting a gross revenue that you never saw. Other credit cards report the NET after fees, while PayPal reports the Gross that you never see.

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CalmMix
Contributor
Contributor

Thanks for clearing that up for me.

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