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 tomcy6

If you go into your Audiogon account, click on the BUYING link, then click on the BOUGHT tab you will find the equipment you bought on Audiogon, the price you paid and the date you purchased it.

You can do the same thing for items you sell.

It will take a while to sort out exactly what this new 1099 means for individuals. In the meantime, stay cool and save documentation for purchases and sales.