Originally Posted by
jaciqltznok
and do not forget that now Uncle Sugar has his hands out and you will be sent a 1099 this year for all online transactions! You will be responsible for paying taxes on what you sold, plus declaring it as income, and for paying sales tax on items you buy. All of this is now tracked via Paypal, billpay, and any other electronic payment site!
You're only going to get a 1099 from paypal if you've had over $20,000. in income and 200 transactions.