Received a PP 1099K for more than $20K income with one paypal account. Received a second PP 1099K for less than $20K on a second PP account. Likely because both have the same SS number.
I wonder if each account did not meet the reporting threshold, but when combined they did, if PP would issue a 1099K? Anyone outside of Massachusetts and Vermont where $600 triggers a PP 1099K, get 1099K's from PP that were all below the $20K threshold?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@Pedzola said:
I thought 1099 requirement was tripped at $600. For my small business I need to send a 1099 to any lawyer or service provider i spend more than 600 with. This excludes suppliers / inventory cost.
Comments
Received a PP 1099K for more than $20K income with one paypal account. Received a second PP 1099K for less than $20K on a second PP account. Likely because both have the same SS number.
I wonder if each account did not meet the reporting threshold, but when combined they did, if PP would issue a 1099K? Anyone outside of Massachusetts and Vermont where $600 triggers a PP 1099K, get 1099K's from PP that were all below the $20K threshold?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Different types of 1099's with different purposes.
Discussion here is the "K" form.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I took Heather's advice, and keep my mouth shut.... and do what I'm told.