I have just given paypal my ssn and now i know they will be reporting my income to the irs so i have to start reporting it. Paypal is sending me a tax form (no clue what i'm suppose to do with it) and i wanted to know if i'm suppose to report my income weekly, monthly, or yearly? Also how do i report my income? is the form they're sending me the form i'm suppose to report it with? it's the 1099-k.