Originally Posted by
Churnman
I generally avoid paypal when it comes to ms since transactions there lead to 1099 report once you hit 200 transactions and $30,000 per year (NO MATTER what kind of deposit, sale, transfer to you it was). If you know you'll never hit those numbers, don't do ebay sales or direct sales, then it might be fine. I agree it may not be worth it to set up an account for seldom use.
Are you sure that a deposit from PPMC counts toward the $20k? Has someone reported getting a 1099 for this in the past?