I recently got an email from Amazon also about having to provide them with my SS# or not being able to sent/receive funds next year. I had orginally thought about the whole 1099 thing and maybe not worth the extra reported income leading to more taxes. But if the above limits are true then I guess I will send them the info and keep the account alive as it would be difficult for someone like me to go above the amounts posted in a given year (I assume the above is for a calender year and not a lifetime thing)

I also had to provide SSN for both mine and my husband's accounts. My dad was completing his $500 spent on Delta CC and sent each of us $250. He also had to add his SSN.

I am curious what this SSN thing is all about. I hope we won't get anything from Amazon to report to IRS.

Does anyone know if Amazon Payments will count toward Chase Freedom's 5x UR points quarterly bonus next quarter?

+1 That would be amazing!

Some of you wondering about 1099k sound a bit aggressive. I can see $6000 running through ($500 x 12) for the year...

More like just under $3K a month * 12 = $35K !!!

JudyJFLA

Still looking for the next bigger thing!
I miss my coins!!!

Is it $20k in payments received or total of payments sent+received?

Should be, received.

(Want a nightmare for tonight's slumber? 1099-Misc can be generated for any amount and should be generated/reported for any amount over $600 )

I dont use Paypal or any other competitor to Amazon payments.
If anyone here does, it would be interesting to know how they handle this.
Is paypal ( or any others) now asking for SS# ??
or did they already require it??
This may help to understand what is going on at Amazon.

PayPal only asks for SSN after $20k in transactions.

This was my thinking for why I have an ugly feeling that amazon is going to start issuing 1099's (much like Citibank sometimes does for their AA miles on checking accounts).

I dont really see any other valid reason other than for tax reporting purposes on why they would need SS numbers.

Can you give an official (IRS) reference for this claim? And what do you mean by "any amount" over $600? There is a requirement for rents, services, etc. but your statement seems a little broad. The IRS has specific instructions for the 1099-MISC and it should not be confused with the 1099-K.

I know of no such requirement.

So what if they issue a 1099k? Sending money to your spouse is not taxable, and sending money to someone else isn't either unless it's a gift and over 11k/year.

Can you say that it's a gift though? Paypal has a "Gift" radio button that you can select but Amazon Payments only has "Goods/Services" or "Cash" something. Nothing to denote that it's a gift... technically speaking.

Well, it's not a gift. And it's not taxable. I send you $1000 on Amazon Payments, you give me $1000 cash. Maybe violates Amazon ToS but definitely not taxable. Sending money to your spouse as most people are doing definitely nothing to be concerned about.