IRS question for PayPal

arod408
Contributor
Contributor

Hello, I received an email via PayPal that mentioned the IRS and to quantify how you are making money through PayPal (I am summarizing as I can no longer find the email). I sell old and sometimes new items on eBay from my family's home who have passed. Not a business just side income. Can you please tell me how to qualify this if I need to? Will IRS reach out to me or does it only matter if I have BOTH $20k AND 200 items for sale? I definitely don't make $20k. Thanks for confirming! And if there is a form I need to fill out is there a way to link it here? 

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2 REPLIES 2

kernowlass
Esteemed Advisor
Esteemed Advisor

@arod408 

 

Then why did you open a business account?


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arod408
Contributor
Contributor

I didn't open a business account to my knowledge so I'm unsure why I received this email. I'm trying to understand if this note affects me or not and if there are any steps I need to take. 

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