What just happened to accepting Paypal?? looks like they are trying to drive us away

Lula.
The figures are 200 sales or $20,000.
Which is a stupidly low figure as some of our hobby items can cost that or more on its own.
And this is from a personal account.
I have had " dealings" with the IRS and PayPal over this for the last 3 year’s.
PayPal at present does not differentiate between actual monies received from sales and gifts from friends and family sources.
This results in them sending the IRS incorrect and untruthful statements which then costs time and money to resolve.

Expect a change........

Although I hate to say it, it does look like the new Ebay managed payments system will work out better for the hobbyists.
They also have to report to the IRS sales of 20k or 200 items BUT they do not know or care about any monies received via PayPal friends and family so at least it should be an accurate fair reporting from eBay.

Ok back to the topic at hand......

@lula  Thanks. That's good to know. I was referring to 'self-reporting' which is what we all do, even for Craigslist. : )

Uberwaltz...PP only reports to IRS if the sales reach 20K (I assume you are correct with this number) AND 200 items sold. I discussed
this issue with PP some time ago to make sure that BOTH criteria must be met to be reported, not one or the other. Obviously, one can easily sell a few pieces of high end equipment and reach $20K. That would certainly not constitute the workings of a business.

 

@lula  Thanks again. The information you shared is valuable. Appreciate it.