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PayPal USA Community Chat 12/6 - Closed

Moderator

PayPal USA Community Chat 12/6 - Closed

Hey everybody!

 

Join the PayPal Community Forums moderation team in our weekly USA Community Chat on Wednesday, December 6th, 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

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
46 REPLIES
Moderator

Re: PayPal USA Community Chat 12/6 - Open

Hi everybody!

 

This week's USA Community Chat is now open and unlocked! 

 

Our moderator staff will be available for the next hour to answer your questions about PayPal. We do ask that posts follow the PayPal Community Help Forum Policy and the Forum Guidelines.

 

Once the session is over, this thread will be locked again, but you will be able to view the content in the forums.  This chat is a regular feature every Wednesday from 1pm to 2pm PT, so if you missed us this week, please feel free to stop by in the future! 

 

Olivia

 

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

Re: PayPal USA Community Chat 12/6 - Open

i have a 1099 IRS question, i have spoken to many Paypal Agents who can all confirm i am under 20k in goods and services sales. can i trust what they have to say?

Member

Re: PayPal USA Community Chat 12/6 - Open

Many agents have verified my total is under 20k, do i have to worry that Paypal would make a mistake and accidently mail out the 1099 or process a 1099?

 

Also i read online that for an indivudual account that is not a buisness, they are required to reach out to you to verify your name and address are what is being reported to the IRS is that correct?

Moderator

Re: PayPal USA Community Chat 12/6 - Open


gorace7878 wrote:

i have a 1099 IRS question, i have spoken to many Paypal Agents who can all confirm i am under 20k in goods and services sales. can i trust what they have to say?


Hi @gorace7878,

 

Great question - when it comes to the total volume you sell, we calculate this based on payments for only Goods & Services payments when reporting on a 1099-K. In this case, if you're unsure whether the information you were provided is correct, please download your transaction history for the year and you can find a total of your received payments in that log. You can find details to dowload your history here. I hope this helps!

 

- Ashley M


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

Re: PayPal USA Community Chat 12/6 - Open

i did do that and came up with the same number that each paypal agent came up with which all was under 20k.

 

all i want to know is if the agent has the correct tools to do this, it seems as though some do and then some dont.

 

this particular accoutn is not active anymore either but did have sales on it this year under 20k. 

Moderator

Re: PayPal USA Community Chat 12/6 - Open


gorace7878 wrote:

i did do that and came up with the same number that each paypal agent came up with which all was under 20k.

 

all i want to know is if the agent has the correct tools to do this, it seems as though some do and then some dont.

 

this particular accoutn is not active anymore either but did have sales on it this year under 20k. 


Hey @gorace7878,

 

Understood thanks for clarifying. All our agents have access to this information and would be able to confirm this. If the number in your downloaded history matches what we've verified with you, then this should be the correct information. I do want to advise that if you have multiple PayPal accounts that are receiving payments and you own both accounts, the total received Goods & Services volume of these accounts would be combined - PayPal does not split these account volumes when reporting, so having two accounts that are over the halfway mark would put you over the reporting threshold for the 1099-K.

 

Regarding your other question, my apologies as it came through as I was answering your first post, we would contact you to confirm the details we have are correct and match your information with what the IRS is reporting or requesting from us. 

 

- Ashley M


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

Re: PayPal USA Community Chat 12/6 - Open

thank you for responding i appreciate it. 

 

so every time someone meets the IRS Threshold of 20k goods and services you would reach out to them to verify their Name / Address matches what the IRS has? So  since that hasnt happened yet and that particular account is no longer open would it be safe to say there would be no 1099 on that account? would that be the case even if the TIN was added to the account earlier on in the year. 

 

That is what the agent i call and speak with tells me, that the accoutn is closed, there was not 20k in goods and services sales on the account and your account cannot accept any more money so you would nto recieve a 1099.

 

 

Highlighted
Moderator

Re: PayPal USA Community Chat 12/6 - Open


gorace7878 wrote:

thank you for responding i appreciate it. 

 

so every time someone meets the IRS Threshold of 20k goods and services you would reach out to them to verify their Name / Address matches what the IRS has? So  since that hasnt happened yet and that particular account is no longer open would it be safe to say there would be no 1099 on that account? would that be the case even if the TIN was added to the account earlier on in the year. 

 

That is what the agent i call and speak with tells me, that the accoutn is closed, there was not 20k in goods and services sales on the account and your account cannot accept any more money so you would nto recieve a 1099.

 

 


@gorace7878,

 

Not in this case - if we've verified this information with you before and it is still accurate with the IRS, we wouldn't necessarily ask you to provide those details again. If that was the only PayPal account you had, and it did not meet the threshold, then you would not receive a 1099-K from us as long as you aren't selling any more this year. If you begin selling again, you may hit the limit and we'll ask you to verify those details and send the 1099-K. If the TIN received payments on other PayPal accounts before you added it to the current one, you may meet the threshold on the combined totals.

 

- Ashley M


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

Re: PayPal USA Community Chat 12/6 - Open

well that account is not open any more so no more money woul d be coming in and i have no other accounts i am currently selling on. 

 

since the account is not open does that make a difference ? am i correct in thnking that since no more money is coming in nothing can be added to that total?