1099 form from individual company and paypal tax forms

I received my Paypal tax form and downloaded it.
I made over $600 from a mystery shop company which pays via paypal.

Will I have to pay taxes on both Paypal AND the individual company? How do you distinguish this to say that this was included in the paypal portion??

Am I the only one thinking about this? or am I reading this incorrectly?
Please advise. thank you

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You’ll have a handful of 1099’s.

In the end, you’re responsible for correctly reporting your total revenue across all your 1099 work, and reporting your expenses and tax deductions like mileage correctly too. Hence, why tracking it yourself helps get to the point on your taxable net income for your mystery shopping work.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!

Am I the only one thinking about this?

You and me both. It does not make sense to me either and I fear my accountant ( Husband) would rather pay twice than tangle with the IRS meaning I would end up with virtually no $$ for my work.

@Rho* wrote:

Am I the only one thinking about this?

You and me both. It does not make sense to me either and I fear my accountant ( Husband) would rather pay twice than tangle with the IRS meaning I would end up with virtually no $$ for my work.

Why would you pay taxes on income twice?

For example, $600 total fees from IntelliShop as shown on a 1099 and $600 from for PayPal payments from IntelliShop.

Makes no sense and your accountant should agree….

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!

Edited 1 time(s). Last edit at 01/29/2023 04:01AM by Tarantado.

I do keep track, but this still does not make sense I added up in the Paypal app my January incoming payments it totals: $317.00
BUT the 1099 from Paypal document indicates i made: 367.53 THERE is a $50.53 discrepancy from what Paypal is reporting on the 1099 form. verses when I run the paypal report for the month of January 2022.

Paypal shows the total amount paid to you, which may include reimbursements.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.

You probably received payments in January 2022 for work you did in the last few months of 2021.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008

Exactly! I'm starting taxes now, and as a double-check I just correlated all my received money on my (paper) line-by-line accounting system with what PayPal says I received in January, and the numbers all matched perfectly. PayPal shows the gross payment; you have to keep track yourself of how much of each payment is "pay" and how much is reimbursement and deduct the reimbursement amount from your income--or you will allow yourself to get taxed on reimbursements, too.

I had some 1099s UNDERreporting my gross. I was wondering if a company might send a second 1099 for some reason.

Did you receive a paper 1099 in the mail or did Paypal notify you online? TIA

@Tanischri87 wrote:

I had some 1099s UNDERreporting my gross. I was wondering if a company might send a second 1099 for some reason.

IPSOS issued the only 1099 that did not line up with my math. They reported several hundred bucks lower than what I earned.

Companies can replace a 1099 by re-filing with the IRS and sending a new 1099 with the "Corrected" box at the top checked for up to 3 years following the initial issue.

If you kept good notes throughout 2022, you will be most accurate using your own records and not listing separate 1099 forms on your return. I'll be using my records for reporting taxes.

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1099 form from individual company and paypal tax forms

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