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IRS & Paypal question

illinifan912illinifan912 Posts: 1,462 ✭
in Trading Cards & Memorabilia Forum
Hey Everyone,
I am getting notifications from paypal to provide a tax number. I know that i'll never hit $20k of sales so do i need to provide it or will they limit my account if I dont?

Comments

  • grote15grote15 Posts: 29,748 ✭✭✭✭✭
    They can limit your account if you don't provide it, though I don't know if they do so in every case. I have heard of people whose accounts were limited for not providing a TIN, but those people may have had sales approaching or exceeding the 20K threshold. You have to exceed both 20K and 200 transactions (excluding personal/gift) for them to issue a 1099K.


    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • ndleondleo Posts: 4,150 ✭✭✭✭✭
    Ignore it and just keep track of your sales. I don't plan to cross $20K this year but I know I will be close.

    I don't want to give my SSN out to anymore people.
    Mike
  • JMDVMJMDVM Posts: 950 ✭✭✭


    << <i>Ignore it and just keep track of your sales. I don't plan to cross $20K this year but I know I will be close.

    I don't want to give my SSN out to anymore people. >>



    I agree. I kept telling them no and now they leave me alone. One less entity with my SSN...
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