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Author Topic: Got my 1099-K From Paypal  (Read 4803 times)

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« on: April 06, 2012, 16:30 »
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I got my 1099-K from Paypal today. Fortunately, I already filed my taxes, but what a nonsensical waste of paper. Thanks government for sending me an extra 1099 that reports income I already have on other 1099s. Maybe, my bank should send me a 1099 too. That way I have everything triple reported and can try to untangle it come tax time. Complete nonsense.


lisafx

« Reply #1 on: April 06, 2012, 17:14 »
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OMG, really?  That is very, very late!  Most of us have already done our taxes.  Makes me glad I switched a lot of my income to MB so I don't have to be bothered with it.

Sure hope the number of tax cheats this catches is worth the major inconvenience to the rest of paypal's honest users.   :P

« Reply #2 on: April 06, 2012, 17:16 »
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I think if I got something from them at this date I'd just toss it and let the IRS computer decide whether it's worth an audit. 

« Reply #3 on: April 07, 2012, 10:23 »
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Did you receive 200 or more payments or was the 1099-K based on income alone?  I'm trying to limit my transaction numbers to avoid receiving the 1099-K next year....  Thanks
« Last Edit: April 07, 2012, 10:25 by trek »

« Reply #4 on: April 07, 2012, 12:37 »
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I still haven't given them my number.  No form for me.

« Reply #5 on: April 07, 2012, 13:06 »
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Did you receive 200 or more payments or was the 1099-K based on income alone?  I'm trying to limit my transaction numbers to avoid receiving the 1099-K next year....  Thanks

I would think both. Between freelance projects, stock art and transactions from my own store, it's kind of hard to avoid having a lot of transactions. Not that I'd want to. More transactions usually means I'm making more money.

I still haven't given them my number.  No form for me.

I probably should have done that. I resisted for a long time. I guess I've got a whole year to figure out how to deal with this form for next year.


 

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