- Nov 10, 2006
- Reaction score
This is the first year Paypal is going to start taxing those who made over $20,000/year and I honestly didn't think I made enough to qualify. I guess I did. I got a 1099-K form in the mail this year. I know there are a lot of sellers on here who make a lot more than $20,000/year so I have a question regarding this. Am I going to owe a ton of money to the government because of this? Are they taxing the amount over $20,000 I made or on the whole amount. Apparently I made $21,000. I'm kind of worried because I ran my taxes thus far through TurboTax and wasn't getting much back as it is. Can't really afford to pay in right now.