How can I determine which transactions PayPal included in my 1099K?!
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I just now got my first (wholly unexpected) 1099K. I'm not a merchant, and the number and total amount of my transactions is WAY below the Federal threshold, but Virginia apparently now requires them to be issued in all cases where the annual total is over $600.
But I am so far unable to reconcile the total amount on my 1099K form with any permutation of the transactions listed in the annual transaction report I generated. It is several hundred dollars off from the total of my eBay sales, and I need to get a handle on the applicable payments so that I can assemble the relevant data to explain why they do not constitute income for federal tax purposes.
How can I determine which transactions PayPal included in my 1099K total? I've seen older messages talk about a "Reconciliation Report," but PayPal does not seem to still be keeping any such animal in their current menagerie. Help!
- Labels:
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Tax Documents
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Transactions
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