PayPal 1099-k Under 20,000

[James7388]

Hello I was wondering if I would be getting one I been working on my taxes already and wanna get it all filed so I was wondering if I would get one I was over the 200 transactions but under the 20,000 close with personal gift payments but sales are under it like 15000 so was checking so I don't have to redo them all over again thanks

[DPCreations]

Both requirements need to be met.

The 1099K, however, is irrelevant to your business records and taxes as your own accounting records would all the data you need for your taxes.

[James7388]

Thanks for the answer was just wondering cuz I get paid by people on PayPal and they sent 1099s already and didn't wanna get double reported as would mess up my taxes

[Whac-A-Mole]

wonder why your clients are sending 1099 if they use PAYPAL to make payments?

Ebay does not send out 1099?

now IRS will have all these 1099 from paypal and your clients and you have to explain. 

[James7388]

Yea I know I tried to tell em about not sending em but they insisted to send em so I already did those I don't sell on eBay i do freelance work for graphics

[DPCreations · Accepted solution]

It will depend on how the transactions are defined by the sender.  When someone (service) sends you payments for goods and services, then you would receive the 1099-k.  Money not sent for goods and services does not fit the requirement for 1099-c; that's why PayPal doesn't include non-goods and services payments with 1099-k.

[James7388]

Thank you for your answers I was just wondering I didn't get one from PayPal last year or the years before so was just wondering about that thank you

[Whac-A-Mole]

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@James7388 wrote:
Yea I know I tried to tell em about not sending em but they insisted to send em so I already did those I don't sell on eBay i do freelance work for graphics

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Your clients have to send them,there is a cutoff ,if exceeding so much $$,they have to send.

personally I would ask them to send you a company check?

Unless they are outside the country.  

[victor002]

I do not receive a 1099 from Pay Pal. I am probalbly under the 200 items and $20,000 requirement. However, I need to see a copy. Where can I get one? Thanks, Victor

[DPCreations]

@victor002

You don't.

You just need to use your own account records.  Even with a 1099K you need to start with good accounting records.  The 1099K is not an account record nor an accounting tool.