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 phd

I do not like paypal. They have no loyalty to their customers. If they made any changes for 2022 it is not for your benefit. I don't know how they tax items twice. Once when the item was sold brand new and again when is sold used, it sounds illegal and unethical.