PayPal question

Does PayPal send out 1099s for us? I thought I heard something about them doing that.

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I could be wrong but I think it's only if the amount you were paid by a single company is over $5,000. I think this next year it's going to be $2,500 then in 2027 it will be $600

Edited 1 time(s). Last edit at 01/16/2025 01:56PM by jpgilham.

1099-Ks should be coming for 5K or more paid for goods and services cumulatively through PayPal, not 5K from a single company.

Edited 1 time(s). Last edit at 01/17/2025 01:22AM by bradkcrew.

I was checking into this today. Yes, Paypal will issue a 1099-K for all our payments, most (or many) of which we will also get 1099s from the MSCs separately. It could be a real pain for our taxes as the payments on Paypal don't separate what is a reimbursement from the fee.

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