Didn't receive a 1099-K?

[champagnevideo]

I don't have a 1099-K from PayPal for 2022. I got ones in 2020 and 2021. It's not under Tax Documents (the older 2 are).

I am in Illinois, where I live and have my account registered to, the law is that a 1099-K is required when "the payee has four or more separate transactions, and the cumulative total exceeds $1,000." So, it's less than the federal guideline. I went over both those thresholds in the last 3 years, so I should've gotten one for each year.

I called PayPal and the rep kept telling me the federal threshold of $20,000. I explained I live in Illinois and it's different. He just told me "no, it's the $20k everywhere." Seems wrong? I asked why I would've gotten 1099-K's the other 2 years (I've never gotten close to $20k/yr). He just said he didn't know and to ask my tax guy.

[sharpiemarker]

@champagnevideo 

Yeah, talk to your tax advisor on how to report your PayPal income. You really don’t need the 1099 form because in actuality the income is taxable regardless of getting one or not. 1099K basically confirms/proves the PayPal income to the IRS who would expect you to report it. That is the difference of getting 1099K and not getting 1099K. If you keep good records, give your tax accountant all your gross sales (including any personal payments that may have been received as goods and services to then zero those out), expenses, refund totals for the year.

You can even use the Custom report in Statements of the All Reports page to help with this.