I would appreciate a reply to this post, thanks:
1. when will PayPal report to the IRS?
2. when and how [online, email, snailmail etc] will PayPal provide us with a 1099 so it may be filed with our taxes?
Thank you kindly, Sonny
The answer may be obvious, but I'm not finding it. How do I find my gross payment total for YTD 2011...in other words, PayPal's running total of all goods & services payments that they will report to the IRS? I've been keeping my own running total, and yes, I could add up all the payments in my account history, but I'd like to know PayPal's official total so I can be safe. Thank you!
These things should be easy but they aren't for some reason. Paypal should make it easier for people in business to use then maybe they would get more people using it. Ive spent over an hr trying to find out my total for fees paid in 2010 so I can tell the tax department and claim it as a business cost.
I found a post where many others where asking the same thing.
This should be a simple
I'm about to give up and go to bed.
I've been searching and haven't found a good method of determining this either. I downloaded my payment history and sorted by amount to eliminate the payments to me, but this doesn't filter out the personal (non-purchase-related) payments that I received.
It would be nice if paypal had a spot where you could just see "You have received x transactions for a total of $x.xx in 2011 from purchases". If not, I would settle for knowing how I can generate a report to determine this myself. I want to make absolutely sure my numbers match whatever the IRS receives if I cross the threshold.
An answer from a PayPal staff member/mod would be greatly appreciated! Thanks!
PayPal will track the payment volume of your account(s) to check whether your payment volume goes above both of these levels in a calendar year:
Since Paypal is tracking this, why isn't there an option to see where you are at?