[Skywise]

“Imagine using your Paypal account to facilitate paying for a vacation, only to get a tax form in the mail.”

I don’t get this line - that’s not a business to business transaction. That’s a personal purchase.

Unless they’re saying you’re going to get one for venmo’ing someone to split a hotel stay and then you should be able to defend that as such (no other large transactions) though I’m sure it’ll sucker in a buncha people to pay extra taxes they shouldn’t need to.

[Starboard]

I’m sure it’ll sucker in a buncha people to pay extra taxes they shouldn’t need to.

************

Ahaa, you’re catching on now.

[TexasGator]

“I don’t get this line - that’s not a business to business transaction. That’s a personal purchase.”

The payer is not the processor.

[Alberta's Child]

Maybe I’m missing something, but it seems to me that Form 1099-K is only sent to people who are RECIPIENTS of funds through services like PayPal, Venmo, etc.

If you used PayPal to buy $1,000 worth of used books or something, why would the IRS even care about it since it doesn’t involve anything that should be reported as YOUR income?