How can I tell if a Payment Received is considered "Personal"

[BobbyAbreuFan]

I noticed that in New Jersey a 1099-K will be issued when payments over $1,000 are received. I contacted customer service and they said Payment Types listed as "Personal" are not included in the 1099-K gross amounts. 

I have received many payments this year that include mail in rebates paid to my paypal, payments between friends, etc. However when I view each individual payment I have no way of telling.

Is there any way to look at a specific payment to determine if its "Personal" or not? 

[PayPal_Marina]

Hi @BobbyAbreuFan,

Thank you for posting your question in the Community! When receiving transactions marked as 'Goods or Services' from another PayPal user, a small transaction fee will be deducted. You can view this by clicking on the payment in your PayPal Activity. If you're receiving payments from friends and see that no fee has been deducted from the gross amount, they likely are sending it as a personal payment. However, please keep in mind that any rebates earned from a company would be reported to the IRS. You can find more information about this in our Help Center:

Common US IRS Tax Questions 1099-K, B-Notice, and FATCA

How does PayPal report my sales to the IRS? Will I receive a tax Form 1099-K?

I hope you find this information useful!

- Marina

[BobbyAbreuFan]

Hi @PayPal_Marina! Thanks for your reply.

Could you also discuss the difference between "Money Received" and "Payment Received". I was under the impression money received was for friends and family and payment received means for a good but I have instances of "Money Received" with fees taken out and "Payment Received" where no fees are deducted.