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?

 

dave43

Showing 2 responses by elliottbnewcombjr

well, thanks for the info. 

I gave a guy a loan, he has been paying me via Zelle. 

I just asked him to use money orders instead.

Any other ideas how to receive loan payments?