"PayPal will track the payment volume of your account(s) to check whether your payment volume exceeds both of these levels in a calendar year:
- $20,000 USD in gross payment volume from sales of goods or services in a single calendar year
- 200 payments for goods or services in the same year*
If you cross the IRS thresholds in a given calendar year, PayPal will send Form 1099K to you and the IRS for that year early in the following year."
- https://www.paypal.com/us/selfhelp/article/how-does-paypal-report-my-sales-to-the-irs-will-i-receive...
As mentioned above, a seller is reported to IRS only if both above conditions are met in a calander year. So for this,the gross payment volume of 20,000$ will be calculated only for a calendar year according to the above statement.
So let's say a seller has got paid 20,000$ in TWO years time (this would be from his first sale) and in the first year alone he recived more than 200 payments, would he be reported to IRS?
