Quote Originally Posted by redpython View Post
so the IRS said anything above 20k? what about the 200 transactions? i am confused about the whole deal.
way they put it is 20k and 200 transactions will only be reported to IRS from paypal in order to get the 1099. But some say its either or, but im going to side with the IRS saying its BOTH before PayPal Reports the earnings for that account.

It is confusing for sure, imagine how i felt on the phone when im not a tax expert. But they did say anything below that requirement from the new law Paypal does no have to report it.

So if you made 5k all year through paypal expect to put aside 30-40% of that to pay the state,irs