1099

[JDC007]

Hello.

I just want to verify that I understand the 1099 rule.  To receive a 1099 and have the IRS notified, a paypal member has to meet BOTH requirements of $20K AND 200 transactions.  Is that correct?  If you meet ONLY 1 of those and NOT BOTH, you will NOT receive a 1099.

Obviously very important and just want to clarify.

Thanks!

[PayPal_AshleyM]

Hey JDC007,

That's correct! You have to hit both in order for a 1099-K to be generated. For clarity, this is spread across any PayPal accounts you may have, meaning if you have two accounts and neither reach the limits alone, but combined they do, you would still receive the 1099-K as this is based on your business through PayPal as a customer, not specific accounts. i hope this helps!

- Ashley M