Paypal Changes for 2022


If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services.  The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections.  Is everyone aware of this?

 

Ag insider logo xs@2xdave43

Showing 1 response by audioelevations

For some time now I’ve bought and sold 100k easily every 6 months  
I pay in cash  and accept cash only.  . You can’t afford to do this find another hobby. I pay cash to individual to drive anywhere and cash is king.. 

I do the same on autos I collect. That’s tricky due to title work. Can’t recall getting a title on a 30k amp.