I didn't get a 1099K from PayPal yet. Has anybody else gotten theirs yet?

Law changed no 1099 for this year. Will start with 2023 tax year.

Some people have posted that they got one last week.

There are various types of 1099 forms. Someone who has a business account at PayPal (which can also receive shopper payments) may have balances that result in the issuance of a 1099-K or 1099-INT form. For shoppers who only receive payments (for shops) sent through PayPal, they should not receive a 1099 from PayPal unless they were sent more than $20,000 in TY 2022.

@OldmanJames wrote:

Law changed no 1099 for this year. Will start with 2023 tax year.

Nope. No change in law. The IRS is simply delaying implementation of the rule which it had issued under the law.

Edited 1 time(s). Last edit at 02/04/2023 10:02PM by Rousseau.

If you are a shopper who gets paid via PayPal you can pretty much ignore the 1099k from PayPal. PayPal does not know the source of the money. I have a personal PayPal and a business PayPal where my husband is the primary. I send money back and forth between the two PayPals and PayPal does not know that I am not buying anything. Sometimes I am borrowing money from myself for bills via PayPal credit just moving money between cards to use for purchases, either because I forgot a card or so that I'm not using the same card 10 times in a day at the same gas station. Whatever the reason I don't worry about it because I am not selling or renting anything. I get 1099's and can check income earned on the actual MSP website. We did receive a 1099 k on the business PayPal but I'm not worried about it because I know I can substantiate that it's not earned income if I happened to be audited. MSP's occasionally change the method of payment anyway so that might not be 100X accurate. You do not have to pay taxes twice on the same income, therefore unless you sold something that was paid via PayPal you can ignore that 1099. (For example, you have a side business selling T-shirts or knick-knacks, etc.)or have a rental property where the rent is paid via PayPal, in this case the 1099k would be a document that you ACTUALLY need.