amend the reason for payment

[pk4913]

Hello, I'm inquiring as to whether I can amend the reason for money sent? I made a mistake and need to fix it for tax purposes. Thank you

[sharpiemarker · Accepted solution]

@pk4913 

The recipient will have to issue a refund and you'll have to send payment all over again to correct the payment type.

Note:

1) Sending fees, if any, will not be refunded if the payment was accepted/claimed by recipient and refund is issued.

2) The PayPal fee may not be refunded (for some countries) to the recipient when issuing refund on a goods and services payment.

But this original transaction, if you sent a goods and services payment in error on what's supposed to be a friends and family payment, will still count towards the 1099-K, if that is your concern, even though it was refunded. PayPal gathers all sales receipts, gross, and its up to you to sort it out during tax time.

Once a payment is completed, the payment type can't be changed so we have to be mindful of payment type from the getgo.

[pk4913]

Thank you for the quick response!