Since HP is not liable for 1099-MISC forms and PayPal will be liable for 1099-K forms. How do we get this?
Paypal says that they only report to the IRS if you've received over $20,000 and 200 payments... I'm stumped, it doesn't sound right that I don't have to file my earnings.
They're not saying you don't have to file your earnings. They are saying that you have to reach a certain threshold before they provide you any supporting tax documents. You have to go to your Paypal account/History/Reports and if you received payments that reach the threshold then you can download the supporting tax documents. If you did not reach the threshold then you need to download the 'Anual Financial Summary' where you will find documentation of all the payments you received as well as the fees you paid and, if you have it, their debit card transactions.
It is up to you to decipher what payments came from where but generally you can use the accumulated payments received as your earnings that you need to report. It gets a bit tricky if you are an eBay seller, or receive payments from multiple accounts and merchants because you need to calculate your total sales, debits, fees, and losses.
I don't know why HP does not have to send forms out. Anyway, you have to earn 600 bucks or more before you have to claim income from these sites.
Thanks! I made over $14,000, so I didn't think it was right not filing for it. I printed my received payments from 2012, but how is that reported on taxes if there isn't an official form?
I reported it under the profits / sales section of the "self employment" section of my TurboTax wizard... because I worked through their interface, I don't remember what the real corresponding form is, but I do know there is definitely a place to declare earnings, and one is taxed the same way on those earnings as one would be if they were declared in a 1099.
You are self employed. Add Schedule C and Schedule SE to your 1040. This is usually done automatically in tax software. Just answer the questions.
Thanks. I found that spot "Wages and Income" I added it as a self-owned business. I entered in my home bills, business bills, and income earned. My federal refund increased... I'm not thinking I did that right. Usually, I see a drastic decrease with my 1099
by Ashly Christen 8 months ago
When I look at my earnings history, I see some money but no payments & I don't recall ever recieving any to my PayPal... anyone know why?
by Shaddie 9 years ago
When does this dollar amount get transferred to one's Paypal account? Is there some kind o threshold it has to pass over first? Like it has to reach $50 before it will automatically send to your Paypal? I am quite curious. Over the past two months I have earned a little over $40, so I was wondering...
by Lisa 2 years ago
Okay, I really do not mean to sound that I cannot comprehend much, but I really do not understand the payment and earnings. I am using the HP ad and Amazon ad programs only. Fortunately and unfortunately, I've started hitting payout every month for the past five months as Amazon has finally started...
by William F Torpey 23 months ago
I had earning a long time ago but, somehow, they disappeared. I am a computer dummie so I gave up trying to figure out how to get it back. The first two times were very difficult and twice is quite enough -- so I have no account and I no longer make a dime (I did get two payments over the years,...
by Susan Hambidge 8 weeks ago
Hi,I usually receive payment on the 28th but I haven't for December. Has something changed? I have earned over $50, I can see the balance in my earnings.Thank you,Sue
by meloncauli 2 years ago
Hi everybody. Why would I have a 'pending' Paypal payment showing up in my balance from a month ago? I received it fine but from HP its still showing up as pending. Thanks.
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