Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Aug 31, 2022 12:08:36 PM

Receiving payment via Venmo or Paypal

How do I file taxes for money accepted via PayPal and Venmo for a job completed?

0 1 383
1 Replies
Employee Tax Expert
Aug 31, 2022 12:33:17 PM

Hi Cutlos, Thanks for the question.

 

Regardless if you receive a 1099-K (issued for $600 and above) from PayPal and Venmo for the job completed, you should report the amount received as a self employment income on Schedule C and claim all the related business expenses to earn that income.

 

Hope this helps.