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Tax question

SOLVED
mfh247
Contributor

Tax question

My account was used for business only but I didn't start with an EIN but my personal SSN, I only added the EIN later.  Now the business is closed and my account is limited because Paypal needs Vendor/supplier information, Submit a copy of your business catalogue or brochure, & Submit your inventory receipts.  Will my personal SSN receive the 1099-K or with it be taxed to the EIN because none of the payment were for personal profit.  If anyone could help that would be much appreciated.

 

Thanks  

1 ACCEPTED SOLUTION

Accepted Solutions
sharpiemarker
Esteemed Advisor

Re: Tax question

@mfh247 

 

I would imagine that since it is a business account and you entered an EIN, it would be on your EIN. If one didn't have an EIN entered, just only SSN, then it would go to your social.


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

4 REPLIES 4
sharpiemarker
Esteemed Advisor

Re: Tax question

@mfh247 

 

I would imagine that since it is a business account and you entered an EIN, it would be on your EIN. If one didn't have an EIN entered, just only SSN, then it would go to your social.


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

PayPal_Olivia
Moderator

Re: Tax question

Hi @mfh247,

 

Thank you for your post! The information that @sharpiemarker gave is exactly right!

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
mfh247
Contributor

Re: Tax question

Thanks much appreciated PayPal_Olivia, I didn't do it myself because the agent I was chatting with told me that if I didn't resolve the issues with my account that the 1099-K would be on my SSN.  I understand that he needed me to get it resolved but like I told him, one of the issues was with an account I have nothing to do with.  I'm not using the account anymore and would rather not deal with customer service agents trying to give me false information and get me worried.

PayPal_Olivia
Moderator

Re: Tax question

Hi @mfh247,

 

There are times when an SSN is needed for an account even if it's a business account. The EIN would be how the tax document is assigned, but the SSN might be used to handle identity confirmation. It would also be the tax number in a situation where an EIN is not furnished.

 

I'm sorry that there was confusion in the conversation that you had with support.

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.