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PayPal USA Community Chat 9/6 - Closed

Re: PayPal USA Community Chat 9/6 - Open

Hello, My question is regarding 1099k form for multiple Paypal accounts but single Ebay account. I have a single Ebay business account and I would like to have some of my sales go directly to friend's personal Paypal account using his own Tax ID, by changing the email address on some of my listings. Paypal reports to IRS when an account does either $20,000+ in a fiscal year or 200 transactions. My business account does both. Friend's account will be limited to less than $20,000 but I am not sure if it will be limited to 200+ or less transactions. In either scenario, does his PayPal transactions get reported to my account? Meaning, when I receive my 1099k forms, will it also have a tab or separate form with his information included? Thank you,
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Moderator

Re: PayPal USA Community Chat 9/6 - Open


@Infamous1010 wrote:
Hello, My question is regarding 1099k form for multiple Paypal accounts but single Ebay account. I have a single Ebay business account and I would like to have some of my sales go directly to friend's personal Paypal account using his own Tax ID, by changing the email address on some of my listings. Paypal reports to IRS when an account does either $20,000+ in a fiscal year or 200 transactions. My business account does both. Friend's account will be limited to less than $20,000 but I am not sure if it will be limited to 200+ or less transactions. In either scenario, does his PayPal transactions get reported to my account? Meaning, when I receive my 1099k forms, will it also have a tab or separate form with his information included? Thank you,

Hi mojovision! Ashley is working on your question and will have an answer for you shortly.

 

Hi Infamous1010,

 

Thanks for joining our chat! I'm happy to help.

 

A 1099K is generated when both the 200 transaction and $20,000 volume thresholds are met on a PayPal account. Each account would have its own threshold and its own reporting. The activity on one PayPal account would not affect the reporting on another account. Each account holder would only receive the 1099K for that account. Does that help clarify things? Please let me know!

 

Olivia

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Re: PayPal USA Community Chat 9/6 - Open

So, if it stays under 20,000k but does more than 200 transactions, it will not be reported?

 

Thank you very much.

Moderator

Re: PayPal USA Community Chat 9/6 - Open


@Infamous1010 wrote:

So, if it stays under 20,000k but does more than 200 transactions, it will not be reported?

 

Thank you very much.


Great question! Activity under the thresholds will not result in a 1099K. The information is still subject to reporting if the IRS ever requests it. 

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
New Community Member

Re: PayPal USA Community Chat 9/6 - Open

The Donate to Harvey start page interferes with Quicken One Step Update that automatically logs on and downloads account activityl. There are other ways to solicitate donations that do not interfere with the automatic processes. Please remove that page! There is no way to automatically update Quicken and you are causing Havoc to all the beta testers, testing the next version of quicken. Paypal is now getting a failing grade as to working with Quicken. 

 

Moderator

Re: PayPal USA Community Chat 9/6 - Open


@ballet-girl wrote:

The Donate to Harvey start page interferes with Quicken One Step Update that automatically logs on and downloads account activityl. There are other ways to solicitate donations that do not interfere with the automatic processes. Please remove that page! There is no way to automatically update Quicken and you are causing Havoc to all the beta testers, testing the next version of quicken. Paypal is now getting a failing grade as to working with Quicken. 

 


Hi ballet-girl!

 

Thank you for that feedback about your experience. I'm sorry to hear about the interference, and that's good information to know about what's happening. I appreciate you passing that along!

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
New Community Member

Re: PayPal USA Community Chat 9/6 - Open

I have a transation on my bofA debit card for a paypal account that is not mine what do I do? 

Moderator

Re: PayPal USA Community Chat 9/6 - Open


@Shyanna6 wrote:

I have a transation on my bofA debit card for a paypal account that is not mine what do I do? 


Hello Shyanna6,

 

Oh no! Very first thing would be to have Bank of America cancel your debit card and have a new one issued to protect your account information. To report it to PayPal, the best thing would be to contact us directly by phone. We will never ask you for a card number over Social Media or here, but our phone support can take the number to search our system for the fraudulent account. Please, follow the Help and Contact link at the bottom of the page to get to the best phone number available to you. These situations are scary, but you are 100% protected against payments we confirm are unauthorized. 

 

Thank you!

Michelle

Moderator

Re: PayPal USA Community Chat 9/6 - Closed

Thank you to everyone for participating in this week's chat session!  

 

The weekly chat session is now closed.  All thread content will remain viewable, but locked.  Any questions that have not yet been responded to by a moderator or employee will receive a response within the next hour.

 

If you missed chatting with us today, please come back next week on Wednesday, September 13th at 1pm PT. We'd love to meet you!

 

See you then!

 

-Ashley


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