Quarterly Taxes and Proof of Income

[Nordy114]

Hello all! Currently facing a sort of unique situation and any help/guidance would be greatly appreciated. I just got out of the military about a month ago and have moved into eBay full time. I currently PROFIT roughly $6000-$6500/month on average. I have been doing this since about May 2019. I am also currently attempting to apply for a home loan. My roadblock right now is that the loaning institution is not considering my PayPal statements as income as I have no tax returns to prove profit. I guess my question is what can I do to clearly, without any question, display my actual taxed income? I know PayPal reports 200+ transactions/$20000 in sales and I know I have far exceeded this mark already. Is there a way I could pay quarterly taxes just to show the profit I accumulated in the last 3.5 months? Or even just a document from PayPal or the IRS to show they are tracking my cash flow? Thanks to anyone who can chip in.

[sharpiemarker]

@Nordy114 

You need to consult an accountant in your state. And if you are paying quarterly self employment tax, that should have been taken care of with the IRS independently, you'd submit some kind of form and pay the quarterly tax. Consider showing bank statements where these profits go in. PayPal ain't a bank.

Plenty o' info here:

https://www.paypal.com/us/webapps/mpp/irs6050w

https://www.irs.gov

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