PayPal 1099 form

[RI AL]

Has anyone received a 1099 tax form from PayPal, or been able to access it online?

 

Thanks! RI AL

[dooly]

Not me

[thebeav]

You must have the interest bearing account from them, huh ?

 

Paul

[RI AL]

Yup. interest bearing...I think it's about .56%...but my tax guy wants the statement anyway...I think I may have made $2.18 in interest...more or less...geee...not reporting it...is it as bad as $140,000 for use of a friend's car???

[RGT]

I don't recall what the limit is, but a 1099 is not required for small amounts. I'm certain that $2.18 is below that limit. If Paypal is not required to send it, do you really think they will bother?

[jtryka]

$10 is the limit for a 1099 to be required, but some companies issue them below that amount.

[ldhair]

Yup. interest bearing...I think it's about .56%...but my tax guy wants the statement anyway...I think I may have made $2.18 in interest...more or less...geee...not reporting it...is it as bad as $140,000 for use of a friend's car???

You need a new tax guy. Sorry but that's just off the chart.

[jgrinz]

I did get mine at a whopping $14

 

This is actually a MM account so its a dividend - if it matters

Go to Paypal main page

bottome of the page hit money market

Go to the middle of the page and hit

"Go to my Money Market Fund account"

You can view and print 1099's there

 

Good Luck Al - Hope that large gift for the house for the offspring helps

 

 

[Schatzy]

Yup. interest bearing...I think it's about .56%...but my tax guy wants the statement anyway...I think I may have made $2.18 in interest...more or less...geee...not reporting it...is it as bad as $140,000 for use of a friend's car???

 

RI AL you don't need a tax person....it is so easy these days to do it yourself.

Since you are already doing your taxes this year, try doing yourself and I bet

you will come out with the same numbers.

 

Just my thoughts

[Conder101]

try doing yourself and I bet you will come out with the same numbers.

Or better. Consumers Union runs a test every so often to see who figures taxes most accurately and it always comes out the same way CPA's are at the top followed by the taxpayer, then the tax firms such as H&R Block, and bringing up the rear the IRS.

[physics-fan3.14]

try doing yourself and I bet you will come out with the same numbers.

Or better. Consumers Union runs a test every so often to see who figures taxes most accurately and it always comes out the same way CPA's are at the top followed by the taxpayer, then the tax firms such as H&R Block, and bringing up the rear the IRS.

 

Any idea where software like Tubotax ranks on there? Or is that included under taxpayer.

[GeorgeMo-migration]

I did get mine at a whopping $14

 

This is actually a MM account so its a dividend - if it matters

Go to Paypal main page

bottome of the page hit money market

Go to the middle of the page and hit

"Go to my Money Market Fund account"

You can view and print 1099's there

 

Good Luck Al - Hope that large gift for the house for the offspring helps

 

 

That's how I got mine. Paid something like $2 in interest in 2008.

 

The really funny thing is that they didn't include the merchant referral bonus on the 1099. Which means they're eating the tax burden on that money and writing it off as a promotional giveaway or something along those lines.

 

Considering how hard it is to get a merchant referral bonus from PayPal, it wouldn't surprise me if they don't realize they're paying it to anyone.