I received a 1099K from Paypal for my net Stubhub payments that were sent there. I have verified that the transactions reported are Stubhub payments, not interest earned. Paypal insists that they are required to send out a 1099K for the Stubhub payments, even though last year that was not the case. I also have Vivid Seats payments to Paypal that did not get reported on the Paypal 1099K. The only thing that I can think of is that Viagogo is categorizing payments to Paypal as a Good And Services payments instead of a mass payment while the Vivid Seat payments are not. My Paypal transactions from Stubhub and Vivid Seats both say "Mass Pay Payment" so I don't know why I got a Paypal 1099K for my Stubhub payments but not for the Vivid Seats payments. I'm going to get a 1099K from Stubhub also for the same transactions (I'm in Massachusetts so the $600 threshold applies). Paypal told me that they are required to report the Stubhub payments on 1099K with the standard answer of consuting a tax professional for how to handle what will be a double reporting of the same transactions that Stubhub will report. So now I have to monkey around with my taxes to back out the Paypal 1099K so that I am not paying tax on the same transactions. I also have to change my default payment to a bank account instead of Stubhub so that I can avoid this going forward.
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