I was on a MSC website today and they had a link about a new 1099 IRS rule concerning PayPal. I clicked on the link, went to PayPal were they had the information. So, you can sign in and put 1099 in the search area of PayPal and get the information. I am wondering if this is really going to be the hassle it sounds like? Also, I needed to read about the 1099K? What do you guys think? Two hundred deposits or sells through PayPal or a certain amount of income automatically sends a 1099 from PayPal! At least that is what I understand it to read, do you?

If this is correct on my part, we must record our transactions on a spreadsheet and keep it current. I am starting with a spreadsheet but I am not current already. Bad me!

For the more experienced MS how many PayPal hits do you receive a year? I bet you hit 200 by May? It seems like every company uses the PayPal pay method. I know a few state if you take a check over PayPal then you get a fee discounted from your check.