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anazare11
New Member

I got a 1099-k from paypal. Paypal says I don't have to report it to the IRS since I don't meet both thresholds (Have over $20000 and under 200 transactions)

 
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AmandaR1
New Member

I got a 1099-k from paypal. Paypal says I don't have to report it to the IRS since I don't meet both thresholds (Have over $20000 and under 200 transactions)

You don't report the form, but you do report the income. Enter it under General Income under your self-employment business. 

The form is a filing requirement for the payment processor company, to the IRS and you receive an informational copy. The 20k requirement is for them to issue you the form, but they issued it to you anyway. 

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