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Old 01-14-2015, 11:30 PM
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1099C Misc

Hello ... I got a tax ? .. per pay pal I made 7363.59 for last year but here the thing. They dont send a 1099 unless you made A. Over $20,000 or B you have received more than 200 payments which non of that applied to me. The reason I made over $7000 is because friends send me money to purchase them things that accept paypal online which I have all the receipts for. Do a claim a 1099Misc or dont do nothing with it? .. I didn't earn any income out of this and this is my first time .. can I write this off? I need help filling this out



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Old 01-15-2015, 05:03 AM
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Join Date: Oct 2010
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Quote:
Originally Posted by MRAFFAELLI View Post
Hello ... I got a tax ? .. per pay pal I made 7363.59 for last year but here the thing. They dont send a 1099 unless you made A. Over $20,000 or B you have received more than 200 payments which non of that applied to me. The reason I made over $7000 is because friends send me money to purchase them things that accept paypal online which I have all the receipts for. Do a claim a 1099Misc or dont do nothing with it? .. I didn't earn any income out of this and this is my first time .. can I write this off? I need help filling this out
Unless you earn taxable income, you do not need to file return. As an e-commerce trader,unless the amount on sch c line 29/31 is $400 or higher, no need to file return. Although someone ~could~ report the retail purchase of merchandise on a
1099, it isn't necessary aslonas you keep your correct sales with you, no problem.

it is up to you if you give them 1099; you may not be required to, give them 1099 but you have the right.



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