So i have spoken to many paypal Customer service agents who have calculated that i am NOT over the 20k irs reporting threshold and i have also verified this myself with my accounting. i do plan on reporting my income but dont want to go through an audit in case the numbers dont match up what paypal has. My questions IS if the accoutn is 500 dollars under the IRS Threshold at 19500k what is the likelyhood that Paypal would send a 1099 on accident or just flat out send one because its so close to 20K? i am over on the 200 transcactions so on the surface it appears as though i would not receive one. I have spoken with a number of agents who state paypal would NOT send ond because its not over 20k and i ahve spoke to a few who seemed clueless and they said you could get one. i am trying to get the facts if anyone knows them. please help.
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my question is...it has been verified by Paypal Customer service that i am well under the 20k goods and services threshold, my question was how often does paypal send out a 1099 by mistake?? I have read on this thread that people have gotten them by mistake and have had only 1400 in gross sales. i was wondering in your opinon how often that happens and is that something i need to be concerned with. no wi know people will respnd with you are supposed to claim eveything on your taxes, wel you and i know that doenst happen .
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what are the odds they send a 1099 out in error? Like i stated i called Paypal many times and i am not OVER the threshold but anything can happen in terms of computers glitches and such. let me knwo if you have heard of any being sent out in error
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