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For those who it may be first year filing taxes. Something I had to call Paypal to find.Your 1099 when ready is available on your paypal account under statements tab on right side then toggle down to tax documents. Obviously simple to find, but I didn’t know that is where they were located until I called Paypal one year after I had not received it by Jan 31st.Hope this helps for those like me who were not aware
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Does Paypal only create the 1099 after $20,000 or do they have it available for any amount? I’m just over $4,000 in sales, but I’m sure my tax person would like having the 1099 rather than my personal paperwork. This is my first year doing this, but I know I’ve reported other non-W4 and 1099 wages in the past.
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Outright or another online accounting subscription is a good source to keep track of sales and expenses if you don’t make enough but are working towards that over 20,000 mark.Your accountant could use the numbers from there (Not trying to give expert tax advise just being helpful, anyone could tell you I am NOT an accountant ;)Although we have sold since 2000, it has only been recently we made over 20,000. My first 1099 I was actually excited . I felt like a real business ! Not just throwing something up on ebay to make quick cash like most of my family thought.Merry Christmas !
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Does anyone know if Paypal will combine total receipts from 2 accounts, to generate the 1099? I have a “business” paypal account and a “personal” account. I received a small amount of money on the “personal” account. It isn’t enough to generate a 1099 on it’s own, though.
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