What if 1099-K includes personal deposits made to Paypal account?

danielle-51 — Tue, 10 Mar 2026 07:12:45 GMT

If there are some personal "payments" or "deposits" included on the 1099-K form, can you deduct those when you are filling out your tax return, or are you required to use the exact number on the 1099-K? Thank you.

Re: What if 1099-K includes personal deposits made to Paypal account?

NCperson — Thu, 29 Dec 2022 16:09:09 GMT

@danielle-51 - note that the IRS delayed inplementation of the 1099K rules for a year. Doesn't mean you won't get one and doesn't mean you don't have to report the income....

the rule about sending out a 1099K if there is at least $600 of income has been delayed by a year.

https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k

it also released these FAQs yesterday:

https://www.irs.gov/pub/taxpros/fs-2022-41.pdf

topic What if 1099-K includes personal deposits made to Paypal account? in Get your taxes done using TurboTax

What if 1099-K includes personal deposits made to Paypal account?

Re: What if 1099-K includes personal deposits made to Paypal account?