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Will I be required to fill out any tax forms for sending and recieveing money to friends and family through paypal?
Are there any amounts that I should avoid going over?
I like it for the convienience, but should we just use checks, back and forth, instead?
Its free to send money to family/friends
See the link which explains more
The link doesn't work.
But just to let you know that its only free to send to family / friends IF you fund it via funds in your paypal balance OR instant bank transfer.
IF you use a debit or credit card then you are charged a paypal fee.
minty1 and kernowlass are both correct but I also wanted to chime in about the tax question.
Assuming you have a U.S. PayPal account, PayPal will only report transactions for goods and services if they meet the IRS thresholds.
We have more information about tax reporting on this page:
I hope this helps!