Bank transfers to paypal from bank account.
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If I transfer money from my business checking account to my paypal account then withdrawl it to my personal checking account does paypal report this as income on the 1099K the same as payments received?
I'm asking because my bank does not allow electronic transfers between personal and business accounts and I have to write a check and drive to the bank to move funds between my business and personal checking accounts. If I transfer it through paypal as the go between it saves me the check and trip to the bank.
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Hi @JRH2,
I can see what you're trying to accomplish, and I am happy to help shed some light on a few points, to hopefully avoid any inconvenience.
The type of activity you describe would not be considered a received payment for the purposes of a 1099-K, but it would be activity that the system might see as problematic. To learn more, please take a look at this thread.
I hope this helps!
Olivia
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