Filing taxes for received money?
- Mark as New
- Bookmark
- Subscribe
- Mute
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I've been making small sales through PayPal for about 3-4 years now. I'd say I'm paid a little over $2000 a year right now maybe a little less. However is this enough money that I have to file taxes? This is usually a payment of $30.00-$150(varies) a few times a month. I am no where near 200 sales a year, probably 30-40 total. No credit card payments or anything, all strictly PayPal balance received payments.
I just found out that you have to file for PayPal transactions, had no idea for this whole time. I started selling at 18 and I just never even thought of filing taxes for the amount I make via PayPal yearly. Also - for me not doing this at all since 2015, will there be repercussions/extreme fees? I'm just a young concerned guy in my early 20's. I'm at a bit of a loss right now/stressed.
Any help is appreciated,
Thank you for reading
- Labels:
-
Tax Documents
Haven't Found your Answer?
It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.
- Sufficient Evidence for Virtual Goods Sale Dispute? in Managing Risk and Fraud Archives
- Email asked for Tax ID, Gifted Payments and Possible 1099k??? in Reporting Archives
- Disputed Case about Receiving Money? in Managing Risk and Fraud Archives
- How much is the fee when receiving money from Australia to Philippines? in Merchant Products and Services Archives
- I just got scammed as a seller and lost $1,230. Is there any way to get my item or money back? in Managing Risk and Fraud Archives