(Possibly) New Tax questions

[Theodore Donald Kiravatsos]

I know a lot of you must still have PayPal accounts. Now, PayPal pays a monthly dividend on the money you leave with them.

Do they 1099 you?

Is there an amount small enough (like 50c) that you don't need to declare?

Where do you declare if you DO have to report and they WON'T 1099 you?

Thanks in advance....

[Shoe]

They 1099 you if the amount earned for the year is over $10.

[swolfe]

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Features - Money Market

Are there any tax implications with my earnings?

As with any earnings, you may be taxed on any dividends you receive from the Fund.

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Features - Money Market

How do I access my e1099-DIV through my PayPal account?

To access your e1099-DIV:

* Log into your PayPal account
* Click Money Market in the footer links at the bottom of the page
* Click View e1099-DIV
You will see your e1099-DIV statement(s).

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the site help is your friend

[StellarWind]

Just declare the amount (however small) you earned on your U.S. taxes as interest along side all your bank accounts. BTW, I do mean interest and not dividends.

If they don't distribute 1099s or report to the IRS then they may be in trouble with the IRS. Or not. But it certainly isn't your problem. You merely need to declare the income and pay tax.

[detroitplayer]

Your name takes up a lot of room on the topic list page.