[Matt Monson]

Originally Posted by tx996tt

Appears Paypal will issue a 1099K for Good & Services transactions (not friends and family) exceeding $600 threshold/ taxable year. Bad deal if you cannot show a cost basis

https://www.paypal.com/us/cshelp/article/will-paypal-report-my-sales-to-the-irs-help543

That was revised back up to $5000, and they haven’t updated their terms. Not that it’s good regardless.