SwingAway Posted November 22, 2023 Report Share Posted November 22, 2023 Looks like the IRS is changing the amount from $500 to $6000 for when you have to report goods and services "income" from payment methods like PayPal. Likely a relief for many on here. Thought I'd pass it along. https://apnews.com/article/irs-venmo-cash-app-treasury-tax-72a78a734967ff49787e209b2e3ca006 LowSpinner, Loudsplashbassn_ and Jinxd12 2 1 Quote Link to comment Share on other sites More sharing options...
SwingAway Posted November 22, 2023 Author Report Share Posted November 22, 2023 My mistake, just realized the new reporting threshold is $5,000, not $6,000. gary m and SoCalBassBum 2 Quote Link to comment Share on other sites More sharing options...
gary m Posted November 22, 2023 Report Share Posted November 22, 2023 3 minutes ago, SwingAway said: My mistake, just realized the new reporting threshold is $5,000, not $6,000. still better than 600 SoCalBassBum and Morph808 2 Quote Link to comment Share on other sites More sharing options...
Awk08 Posted November 22, 2023 Report Share Posted November 22, 2023 $1600 in paypal sales - $1900 Tackle Warehouse & bait drop receipts = $300 tax deduction troutbreath, jonboatjake and Morgan Y 2 1 Quote Link to comment Share on other sites More sharing options...
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