Paypal 1099-k

[MustangCobraGT]

I was just wondering if PayPal sends 1 1099-k for all paypal accounts or does each account have it's own 1099-k?

Also if each account gets it's own 1099-k will paypal report all of them or just the ones that are over $20,000 in sales?

I am asking because I have two acounts. My business one and then a personal one with just a few sales of items I was not selling for a profit (selling used or personal items).

Thanks in advance!

[snowshoe]

From what we know, PayPal will only issue a 1099 to you if you meet the tax requirements. 

[MustangCobraGT]

Thank you for the responce but that didn't answer any of my questions.

I did however find an answer from PayPal for anyone else who reads this thred.

If I have multiple accounts which, when combined, meet the thresholds, but individually they don’t, will my accounts be affected?

Yes. PayPal and all other payment processors are required to determine if the IRS thresholds have been met and, if so, to report payment volume to the IRS by tax ID number such as a Social Security Number (SSN), or Employer Identification Number (EIN).

For example, if two accounts have the same tax ID number on file and have the payment levels shown below, PayPal will report both accounts on separate 1099-K Forms under the new regulation.

Example:

• Account A - 180 transactions for goods or services
• Account B - 30 transactions for goods or services

[snowshoe]

Glad you found your answer.

[janetandken]

OK, so now it's calendar year 2015, and I'm expecting the 1099-K for tax year 2014, and 1.) I haven't received an e-Mail from PayPal stating that the 1099 is ready, and 2.) I can't find the 1099 on the PayPal site, in my account.  What gives?  Did the rules change?  Did PayPal skip me?  Did Uncle Sam give up on trying to shake down all the little account (and getting little income in the process)?