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Get your taxes done using TurboTax
Yes, This is exactly I am facing now. I am from Illinois and I crossed the $1000 limit. I think we have to file 1099-K since PayPal will send it to IRS. As of now, I have added the same amount to Refunds for returned goods, discounts, or rebates. It cancelled out each other. But it is not an income. Not sure how to handle this,
‎February 5, 2021
9:12 AM