How are "Bank Deposit to PP Account" transactions handled for IRS 1099 reporting?

geno51
Contributor
Contributor

I have several "Bank Deposit to PP Account" in my download.  I know these were done automatically from my linked bank account when my PayPal balance was not enough to cover the transaction.  I'm wondering if these are considered income and are reported on the 1099k? 

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1 REPLY 1

sharpiemarker
Esteemed Advisor
Esteemed Advisor

@geno51 

 

Only payments received from sales or selling something are counted towards the 1099K. Adding funds to PayPal account to pay for purchase is buying something, not selling something. 1099K is a report to IRS on gross sales receipts.

 


Kudos & Solved are greatly appreciated. 🙂
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