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Self employed
If it's not business income to you, it is not a deductible expense to your friends and/or family. There is no consequence to using these forms of electronic payments for normal non-business transactions. If you were to receive a tax form from these transactions that are non-business you would be able to show them on your tax return and also show a corresponding negative amount to remove them from being taxed. However, I do not think you will need to worry about this.
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‎August 31, 2022
10:13 AM