Paypal and Taxes here in the US

3 replies
Does anyone have any insight into the whole thing with paypal and taxes? I have about a week to get things done for my taxes and wanted to make sure that I had all the right information...

I keep a record of the sales and expenses via messages paypal has sent me... Considering we as IMers don't have physical receipts, would these printed off offer a good substitute to take to a place like HR Block or for me to do my own taxes online?
#paypal #taxes
  • Profile picture of the author imsas
    Jaybaker, a printout should be fine.. I've used printouts for my last few tax returns and it shouldn't be a problem..
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  • Profile picture of the author lotsofsnow
    You can log in to your Paypal account and download all activity. Then you can print it or import into any book keeping or accounting software.

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  • Profile picture of the author Green Moon
    An electronic record of your activities should be fine. Most banks and credit card companies are constantly urging their customers to "go paperless." Big companies do billions of dollars of transfers via electronic data interchange (EDI).

    Your electronic records from Paypal should be sufficient support for the expenses if you were ever audited.
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