I keep seeing this rule being shared all over but I’m not sure how I would be affected.
What I’m seeing is that if you receive more than $600 total through digital payment platforms such as cashapp, venmo, paypal, etc, you will be taxed through form 1099-K.
Me and my boyfriend easily send each other well over $1k a year each using venmo/cashapp. This is typically to pay each other back when one of us buys something like dinner. Will our money get taxed when we send it through these apps??
I have no idea who I can contact to ask about this so I came to reddit, but if you know a good helpline please send it my way.
Submitted September 30, 2021 at 08:34AM by cabbage-soup https://ift.tt/3iiM4A0
