On the NEW month statements do paypal funds designated and received as 'GENERAL" payments that show no Paypal fees and received from family/friends, count as income received on yearly 1099 from Paypal? Thank you for any help as with these new statements its really difficult decipher what is actual income according to Paypal and what isn't. Thank you for any help. Victoria
That's a great question. Here's a link to the Help Center article on common US IRS Tax Questions. In reviewing this article it appears that we are required to report payments received as goods and services and not friends and family payments. I hope this helps.
Ive read those until I'm blind. My question remains: Does a payment into my account that shows as a "General Payment" and shows NO paypal fees count as taxable..????
