Yeah, when you think about it, PayPal isn't the one that wanted to implement this, it's our government that required PayPal and other like services to report this information to the IRS. It takes time, and money, to write programs and guess we should be glad we got anything from Paypal to work with. And if they spend a lot of time/money writing a bunch of programs for all of this the fees will go up!
... View more
There was another question on down about personal payments. The paypal guy said personal payments are NOT counted. They will show up on your report but not counted as "goods or services." for IRS reporting purposes. So in your case, you did not meet the $20,000. However, the paypal guy did also state that they look at people that abuse the "personal" payment option so if you have a lot coming in as personal payments, they may question that.
... View more
I have a premier account, not a business account. I have sold a few household things on eBay ... less than $2000 in a year. I now see at the bottom of my profile that they want me to provide my SS# or Tax ID. I don't even associate my checking account with Paypal because of all the identity theft going on now... let alone give my social security number out on-line. Is eBay just "asking" for this and I don't really have to provide it? From what I read, I have to have $20,000 worth of sales before it's reported to the IRS.
... View more