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20,000 USD + in PayPal - IRS 1099-K Question

Discussion in 'Ebay' started by ellmexicann, Jan 4, 2015.

  1. ellmexicann

    ellmexicann Junior Member

    Apr 11, 2009
    Likes Received:
    Hey Guys, I have a business unaffiliated with eBay which I gave PayPal my EIN when I signed up instead of my personal social.

    I just realized I'm well over the $20K / 200 transactions with PayPal.

    My question:
    Has anyone ever exceeded this and not filed the 1099-K on their tax return?

    I would like to not worry about this as while I processed a lot of money, not much was profit. I did it mostly for credit card points/rewards.
  2. toml3030

    toml3030 Elite Member

    Aug 16, 2014
    Likes Received:
    do not mess with the IRS...they are slow, but in the end, they end up getting what they want