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Do i have to pay taxes?

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PaulBalan
Contributor
Posted on

Hey! Can you help me clear it out? If i make less than 20k $ / year with less than 200 payments, will PayPal report it?

Do they link the passport / id number to the tax service?

1 REPLY 1

Do i have to pay taxes?

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DPCreations
Frequent Advisor

If you're in th U. S., taxes are owed on any net profit you earn, whether reported by PayPal or not.  That means filing  Schedule C for sole proprietorship business or another form depending on how you operate your business.  It's best to consult a tax accountant for details on how to file your income taxes.

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