"Friends and Family" - Do I need to report to the IRS?

JenJen007
New Community Member

Hi, I sold furniture to my friend today and they paid via "Friends and Family". Will I need to report this sale to the IRS regardless of the amount? Thanks!

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1 REPLY 1

sharpiemarker
Esteemed Advisor
Esteemed Advisor

@JenJen007 

PayPal does not report friends and family payments transactions on the 1099-K to the IRS. 

That said, if you sold something, you can include it in your income tax as other income. Please consult with tax professional.


Kudos & Solved are greatly appreciated. 🙂
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