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 1 response by osadu

Paypal notified me that they will send me form 1099 this year for selling used gear. I used Paypal for the transaction.

Paypal has been withholding fund that I get paid for selling my used gear on Audiogon. Paypal withholds my funds for weeks and requests tons of information concerning the Audiogon sale for releasing the funds to me. Is there a better online payment service company out there? Is Zelle a good alternative? Please help, I need to stop using Paypal.