What does Paypal go off of for the 1099?

josiworm
Contributor
Contributor

The annual "Sales Activity" or the annual "Payments Received" ?

 

To get a 1099, you have to reach $20,000 in income & over 200 transactions in the year. 

I am at $19,500 for the sales activity and $20,200 for the payments received. Will i receive a 1099? 

(I thought that the "Payments Received" included money from "Goods & Services" & "Family & Friends". Which should mean I am not over the $20,000 mark yet? I have at least $700 from this year that came through as personal.)

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2 REPLIES 2

sharpiemarker
Esteemed Advisor
Esteemed Advisor

@josiworm 

 

All goods and services payments (personal payments not included) over grossing over $20K AND 200 transactions. Have to meet both thresholds.


Kudos & Solved are greatly appreciated. 🙂
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josiworm
Contributor
Contributor
Yes, i know that. But where can i find how much i made just from “Goods & Services”.
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