| Discussion Forum: Thread 337168 |
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| | | Author: | rainbowmist  | | Posted: | Mar 27, 2023 17:18 | | Subject: | Paypal & Taxes.... | | Viewed: | 141 times | | Topic: | Help | |
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| Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
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| | | | | Author: | jennnifer | | Posted: | Mar 27, 2023 17:29 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 38 times | | Topic: | Help | |
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| In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
https://www.bricklink.com/messageThread.asp?ID=332329&nID=1383732
The $600 limit for tax reporting was delayed for this year at least.
But, yes, your income from sales should still just be included with your normal
taxes (Schedule C I believe.) You don't need a 1099 form from Paypal to trigger
that.
Jen
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| | | | | | | Author: | rainbowmist | | Posted: | Mar 27, 2023 17:37 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 29 times | | Topic: | Help | |
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| In Help, jennnifer writes:
| | In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
https://www.bricklink.com/messageThread.asp?ID=332329&nID=1383732
The $600 limit for tax reporting was delayed for this year at least.
But, yes, your income from sales should still just be included with your normal
taxes (Schedule C I believe.) You don't need a 1099 form from Paypal to trigger
that.
Jen
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Thank you Jennifer
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| | | | | Author: | peregrinator | | Posted: | Mar 27, 2023 17:37 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 36 times | | Topic: | Help | |
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| In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
You don't have to file for 2023 until next year, for this year you just have
to file for anything you made in 2022.
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| | | | | | | Author: | rainbowmist | | Posted: | Mar 27, 2023 17:41 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 35 times | | Topic: | Help | |
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| In Help, peregrinator writes:
| | In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
You don't have to file for 2023 until next year, for this year you just have
to file for anything you made in 2022.
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Thank you
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| | | | | Author: | molten.brick | | Posted: | Mar 29, 2023 04:11 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 38 times | | Topic: | Help | |
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| However you choose to proceed, don't forget to include any Paypal fee as
an expense!
In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
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| | | | | | | Author: | rainbowmist | | Posted: | Mar 29, 2023 12:17 | | Subject: | Re: Paypal & Taxes.... | | Viewed: | 34 times | | Topic: | Help | |
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| In Help, molten.brick writes:
| | However you choose to proceed, don't forget to include any Paypal fee as
an expense!
In Help, rainbowmist writes:
| | Hi. I need some advice on Paypal Taxes. I have made so far over $600 in sales
for this year 2023. It says on my paypal account currently that I don't have
any tax document yet. Do I still have to file?
|
|
Thanks So much to remember when filing.
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