Hello,
So, I was reading up on the new thresholds for qualifying for the 1099k form (basically if you earned +$600 starting the entire year of 2022, then you'd have to file as well as record every single transaction made on PayPal in 2022). I'm just under the Minimum threshold of +$600, but since I use PayPal to buy a lot of stuff (much more than I sell), will I owe/have to pay taxes on all the stuff I BOUGHT? I would really like to know regardless because it's stressed me out for a couple of days now.
Edit: I have been using a personal PayPal account for my transactions, I don't have a business account.
