PayPal USA Community Chat 1/17 - Closed

PayPal_Olivia
Moderator
Moderator

Hey everybody!

 

Join the PayPal Community Forums moderation team in our weekly USA Community Chat on Wednesday, January 17th, from 1-2pm PT (4-5pm ET).

 

Our moderator staff will be here to answer your questions regarding PayPal. This thread will remain locked until the chat is open, so if you have a question you'd like to see answered by the community before then, please feel free to post a topic by clicking on "Post a Topic" and selecting the appropriate board.  As always, PayPal customer service can be reached by clicking on "Contact Us" and selecting help via phone or email.

 

Please feel free to RSVP to the chat by clicking "Me too" at the bottom of this post.  See you then!

 

Olivia

 

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42 REPLIES 42

PayPal_Ashley
Moderator
Moderator

@slvance7 wrote:

I sent a facebook private message and posted on the page as well. I have not received a response.


Thanks for getting back to me, @slvance7! I'm sorry to hear that you have not received a response yet. 😞 I assure you we do have teams that monitor and respond to our social media messages on Facebook and Twitter. If they have not replied to you yet, they will soon! 

 

We appreciate your patience in the meantime and I apologize again for the wait!

 

-Ashley


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backwoods12
Member
Member

will paypal send out a 1099 if someone is under 20K in goods and services payments received but not over 20k?

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PayPal_Olivia
Moderator
Moderator

@backwoods12 wrote:

will paypal send out a 1099 if someone is under 20K in goods and services payments received but not over 20k?


Hi @backwoods12,

 

Welcome to the chat!

 

PayPal will only provide a 1099-K if both the 200 transactions and 20K volume requirements have been met. For more info, please check out this page.

 

I hope this helps!

 

Olivia

 

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backwoods12
Member
Member

so for clarification for the entire page if a person has 19999.99 they will NOT receive a 1099k provided they do not have other accounts with the same TIN ITIN or Social correct?  

 

 

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PayPal_Olivia
Moderator
Moderator

@backwoods12 wrote:

so for clarification for the entire page if a person has 19999.99 they will NOT receive a 1099k provided they do not have other accounts with the same TIN ITIN or Social correct?  

 

 


Hi @backwoods12,

 

That's correct! Please note that these thresholds only affect whether or not a 1099-K will be generated. If you have any questions about what your obligations are for reporting income, please contact the IRS or a tax professional.

 

Olivia

 

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backwoods12
Member
Member

absolutely i know you have to file taxes but i was just wondering on the level at which a 1099k is generated.

 

it seems as though its pretty cut and dry / black and white BUT i was wondering if it was actually true.

 

from previous threads on this web page i see that its 20k and 200 transactions,

 

so hypotheticaly speaking if a person has only one count an dthey had the followign information 

 

total 35000k in payments

 

19500k Goods and Services tranactions

15500 personal payments

 

would that account be getting a 1099k??

 

 

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PayPal_Olivia
Moderator
Moderator

@backwoods12 wrote:

absolutely i know you have to file taxes but i was just wondering on the level at which a 1099k is generated.

 

it seems as though its pretty cut and dry / black and white BUT i was wondering if it was actually true.

 

from previous threads on this web page i see that its 20k and 200 transactions,

 

so hypotheticaly speaking if a person has only one count an dthey had the followign information 

 

total 35000k in payments

 

19500k Goods and Services tranactions

15500 personal payments

 

would that account be getting a 1099k??

 

 


Hi @backwoods12,

 

I know! It seems like it would be more complicated, so it's easy to second-guess the simplicity of it. I understand wanting to be sure. 🙂

 

In the hypothetical situation you presented, a 1099-K would not be generated. 

 

Olivia

 

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backwoods12
Member
Member

awesome thank you for the information, you are great and your response time is fast 

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PayPal_Olivia
Moderator
Moderator

@backwoods12 wrote:

awesome thank you for the information, you are great and your response time is fast 


Awwww, shucks! Thanks. 🙂

 

Olivia

 

If this post or any other was helpful, please enrich the Community by giving kudos to its author, accepting it as a solution, and/or coming back to assist others. Members make this Community great!
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backwoods12
Member
Member

i am guessing is some kind of software that automattically flags accounts over 20k and then generates a 1099k for them?  

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