General Payments with no transaction fees...HELP PLEASE

[GabbyT]

Ive received a couple of deposits into my Paypal account from relatives. On the new monthly statement, they show up as "General Payment" with the name of the person after that. They show NO paypal fees associated with them.  do these types of payments count as taxable or..?  I'm really confused as to how Paypal shows whats taxable and what isn't. It worries me as I'm on a fixed income. Thank you for any help

[PayPal_Martina]

Hi @GabbyT,

Thank you for your post and welcome to the Community Forum!

If you have received payments from your relatives and the payments have been sent as 'Friends and Family', you should not be paying taxes on them as the option 'Friends and Family' has been created to send money as a gift. 

I hope this helps.

Martina 

[GabbyT]

Thanks but I’m sure you know, that I know that. My question pertains to the activity summary itself. On that statement how do you differentiate a payment from 1) Friends and Family vs 2) a payment made for goods. If it’s not an eBay auction both 1 and 2 show as “general payment” on the activity log

[PayPal_JonK]

Hello @GabbyT,

Here's a link to a document you find under "Help and Documentation"  in your Reports section: Statement Manual 

I've found this really helpful when trying to sort and review my statements. I hope that helps!

 - Jon K

[GabbyT]

It seems like no one can answer my question or doesn’t want to. It cannot be found in any PayPal documentation as I have read it all. It’s a simple question: On the monthly PayPal statement how does one differentiate between a payment received. Is Friends and family versus a payment received for Goff’s or services. Thank you to anyone that can provide a straight forward answer to this