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myname1001 · 03-26-2006, 02:57 PM

i contacted paypal.

all i know is if a friend gives a friend $100, it's not taxable and you don't have to report it.

so if you have 50 friends who give you $200 each, out of the kindness of their heart (not in the form of donation, in the form of a personal favor from one friend to another) - I shouldn't have to file it, report it, or have taxes tooken out of it, even though it totals $10,000.

03-26-2006, 02:57 PM	#5 (permalink)
myname1001 Inactive Join Date: 03-21-06 Posts: 57 iTrader: 0 / 0% Latest Blog: None	i contacted paypal. all i know is if a friend gives a friend $100, it's not taxable and you don't have to report it. so if you have 50 friends who give you $200 each, out of the kindness of their heart (not in the form of donation, in the form of a personal favor from one friend to another) - I shouldn't have to file it, report it, or have taxes tooken out of it, even though it totals $10,000.