1099 K Confusion

Benjamin200222
Contributor
Contributor

So I believe its clear that payments received marked as friends and family dont count towards the 1099-K.  Here is what I am confused about though.  All my Stubhub ticket sales for season tickets I dont use go to Paypal first and then bank account.  Stubhub is going to issue me a 1099-K since I am over $600.  Is Paypal also going to issue me a 1099-K for these same sales creating a double count??  If so, not much I can do about it this year but will be switching to direct bank deposit to avoid this next year.  What a giant pain this all is

 

Thanks for any help someone has

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@Benjamin200222 

 

That would depend on how Stubhub classifies the PayPalpayout.

 

Apparently, Stubhub payouts via PayPal are fee free but PayPal may still record it on the 1099. You’ll have to speak with a tax professional on how to handle it on your income taxes. Intuit/Turbo Tax has forums where you can ask.


Kudos & Solved are greatly appreciated. 🙂
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