sikorloa

To reach the high spend requirements, I would use two Paypal accounts, and send myself a bill from one account to another, and pay it with the credit card.

There would be a small fee, but if I had $2k or something left, I would send myself a few invoices to cover that spend.

However now that Paypal has to report annual revenue over $600 to the IRS, and I need to cover about $5,000 in spending, I don't want to get a bill from the IRS down the road saying I owe $xxx.xx off of that $5k.

Any other ways I can "bill" myself, or somehow transfer funds to myself using that credit card?

Thank you for any insight.

radonc1

To try and save you and everyone else a lot of time, I would highly recommend reading the following thread.

All things Paypal (2017-onwards)

If you still think that your idea is a viable one after consuming the information provided in it, feel free to go ahead. But, please let us know how things work out. All DPs are appreciated.

sikorloa

I saw that thread is about loading cards, which I previously would do. I however now live outside of the US, and they don't have those options in the country I am in.

I had two PayPal accounts, with two different names (one was a family members, the other was my business one).

I would transfer money between the two, and it would work fine.

It would still work, it's just that I don't want to get in trouble with the IRS, so was looking for other options (I guess I should have said I wasn't in the US, though I am a US citizen).

Thanks in advance for any insight.

Masscredit

I recently used my PP account to burn through some GCs. I have multiple email addresses so I just sent payment requests from my PP account to a few of the email addresses that don't have accounts. I used the gift cards to pay as someone without an account, received the money, transferred it to my checking account and was done. I only ran $1160.00 through there. If anything, I must have sold used stuff that was just laying around. You know I paid more for it than I sold it for so there is no income. That's exactly what happened last year. I had used stuff that I sold last year. Received a statement from PP so I gave that to my accountant along with how much I originally paid for the items (rough guesstimate). That was it.