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A comment on Venmo, PayPal and Zelle must report $600 in transactions to IRS. Parent comment

Re:Venmo, PayPal and Zelle must report $600 in transactions ... by emptybottle on Tuesday January 18, 2022 @12:38PM (#29982679)
I'm more concerned with being double-taxed for splitting bills, then seeing small businesses receive 1099s for payments received through one of these systems.

What bothers me is cases where people are taxed when being paid back for things like dinner out, or splitting a vacation rental. That income was already taxed. Using e.g. venmo to split the bill should not result in that money being double taxed as it changes hands.

[ Parent | on HN ]
Re:Venmo, PayPal and Zelle must report $600 in transactions ... by gruez on Tuesday January 18, 2022 @12:41PM (#29982728)
see: https://news.ycombinator.com/item?id=29981813

Unless you're splitting your bill using commercial transactions, you're fine.

[ Parent | on HN ]
Re:Venmo, PayPal and Zelle must report $600 in transactions ... by LorenPechtel on Tuesday January 18, 2022 @12:56PM (#29982969)
But how does the IRS know what's what? What happens when you have both business and personal transactions with someone?
[ Parent | on HN ]
Re:Venmo, PayPal and Zelle must report $600 in transactions ... by emptybottle on Tuesday January 18, 2022 @12:44PM (#29982786)
The title in both article and HN should reflect that.
[ Parent | on HN ]