Hi, I have been receiving money through PayPal both from my frineds and family and from selling some old family stuffs. I understand the money I receive from family and friends are 'gifts' and hence not needed to be reported as 'taxable ' in tax return, is that correct? However, I believe, the business payments are considered as 'taxable' income and needs to be reported. I honestly didn't keep a track of how much I made through selling goods (but that should be less than $20,000, so paypal will not send me an 1099). Is there any way I can retrieve from my account the payments I received as 'business' payment? How do I differentiate between 'personal' and 'business' payments? I just need to see how much I should report in my tax file.
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