who claims their paypal income for tax purposes
 

I made a good chunk of change this year and was wondering who claims it for tax purpose.. Also I would like to see my grand total in sales for the year but their format makes it very difficult to do unless you have some sort of money software.

Re: who claims their paypal income for tax purposes
 

Is this a joke?

Re: who claims their paypal income for tax purposes
 

yes, I was helping a relative and one thing led to another then the next thing I know we were making some good money, I saved all my expense receipts I guess the real question is how in the hell do I get the information off of paypal without buying money software.

Re: who claims their paypal income for tax purposes
 

Never mind I found a program called Acemoney...

Re: who claims their paypal income for tax purposes
 

By "is this a joke" I think he really meant "are you seriously asking this."

Gov't has considered taxing things like paypal solely because they can't keep track of the money people are making with it... Without getting into numbers, I made quite a damn bit more in paypal than my actual job (there was a two month period that I made more than the entire year at my ok payin job).

Guess what? I don't plan on claiming it. Not because i'm trying to screw the govt, but because:
1. way too ------- lazy to try and figure out what I owe
2. don't believe in the whole income tax ---- anyway
3. after ---- last month, I went from comfortable to broke, and need it

You're gonna end up negating your tax returns or at least severely cutting down on it...

Re: who claims their paypal income for tax purposes
 

I just dont want to get audited.

Re: who claims their paypal income for tax purposes
 

I can understand that. How do you file taxes? I usually use turbotax since its quick and easy. It also tells you your estimated chances of an audit, also you can google steps to avoid an audit or what will set off flags.

I've done worse things than not claim all my income and never had a problem. The more you make, the more likely you are to be audited, because you're able to screw the feds outta more money.

Not telling you to do the "wrong" thing, just saying its not something to worry about too much.

Re: who claims their paypal income for tax purposes
 

If I did over $1.5k a month in net profit via paypal, I'd file. Anything less I wouldn't be too concerned. That is just me talking out of my ass of course.

Re: who claims their paypal income for tax purposes
 

well I have the money market connected to the account. last year was~ 45k
I go to HR to do the taxes.

Re: who claims their paypal income for tax purposes
 

Gross or net? $45k is a lot of money. I'd declare about 2/3 of it.