Hello, I have a personal PayPal account which is mostly use when I don’t want to go grab my wallet to him put credit card information when purchasing items online. I have just received a 1099K for over $1200 for 2018 hello, I have a personal PayPal account which is mostly use when I don’t want to go grab my wallet too and put credit card information when purchasing items online. I have just received a 1099K for over $1200 for 2018. Looking back at my account history, I only see approximately $300 in purchases I made online over the course of the year. And $100 I received from a friend who was paying me back for a restaurant bill I covered. That transaction went through PayPal from Facebook messenger (Like Venmo). I do live in Vermont, which seems to be different from the rest of the country but from what I can tell there needs to be at least $600 transacted. Either there is a gross miscalculation of transactions I made last year. Or I am not understanding something. Also why would I need to be taxed on receiving money from a friend as this was not income or a sale. The only thing I can think of is they want me to pay income tax on that hundred dollars not realizing it was already my money, and sales tax on the miscellaneous purchases, most of which I believe I already paid sales tax on. All of this seems wrong. I can’t find any reference to the $1200 number on the form I received within my PayPal account. What do I do??
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