Hi Everyone,
I recently received a 1099K form from PayPal. They say the income on this has already been reported to the IRS. The income is way less than $20,000 and not even close to 200 transactions. Does any one know why Paypal still sent out the 1099K form?
The income was listed under the
1a. Gross amount of payment card/third party network transactions
And
1b Card Not Present transactions
Both had the same amount. Just wondering how the 20K rule works. I am a MA resident.
Thanks in advance!
