DId you get that paperwork from the IRS about purchasing? over $600.00


So a friend of mine told me that if you purchase anything with pay pal and it is over $600.00 you will get a form from IRS and you will have to cut them a check.is this true? and does that mean I can't purchase from Ebay or any other audio site? say it ain't so.

gmosley

Showing 2 responses by rcprince

I doubt that, but if you have sales of over $600 through PayPal, then PayPal will file a Form 1099 with the IRS which could cause you to have tax liability.

Seller; that's the person with (potential) income.  If I sell something here and don't have a record of what I paid for it, I'm unlikely to accept PayPal.