Tax threshold

[RavensFan]

I see that the threshold is $20,000 and 200 transactions but i have also seen people say they received a 1099 for having less than that because certain states have different requirements such as $600 instead of $20,000. Is there a place where i can find a list of these states? I currently live in Maryland so just trying to see if it goes by the $20,000 200 transactions here or something else. 

[sharpiemarker]

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@RavensFan wrote:

I see that the threshold is $20,000 and 200 transactions but i have also seen people say they received a 1099 for having less than that because certain states have different requirements such as $600 instead of $20,000. Is there a place where i can find a list of these states? I currently live in Maryland so just trying to see if it goes by the $20,000 200 transactions here or something else. 

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There is no such list on PayPal. The only way I see that happening is if people have multiple accounts that tally up to those thresholds. In such cases, PayPal will report all accounts on separate 1099-K Forms which may have different and lower amounts but tallied together will meet and/or exceed the thresholds.

[PayPal_Olivia · Accepted solution]

Hi @RavensFan,

Thank you for your post! I'm happy to help resolve any confusion about 1099K's being issued below the $20,000 threshold in certain states.

The information that @sharpiemarker gave does match what is listed on the PayPal tax information page, but the threshold did recently change for Vermont and Massachusetts. In those two states, Goods and Services payments totaling $600 or more, regardless of number of transactions, will cause a 1099K to be generated and mailed to the account holder.

I hope this helps!

Olivia