Submitted by [deleted] t3_z5ebox in LifeProTips
gmh962 t1_ixvlazi wrote
CPA here... Method of payment doesn't matter. If you make money selling something, it's taxable according to the IRS. It's taxable even if it's under $600, it is just that the IRS only requires the payer to report it to the IRS if it's over $600. But it's all taxable, whether you get paid via PayPal or Zelle doesn't matter.
radialBlur_023 t1_ixvs0xp wrote
So what I'm hearing is only payments over $600 are taxable
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