I order Apple products for friends and family using my employee discount and they would either Venmo or Zelle me back. What is the threshold for transactions for Venmo and Zelle to report to IRS? Should I be receiving some tax form? Is the threshold separate for Venmo and Zelle or is combined? Is it the total of all transactions combined or each transaction that exceeds a certain amount?
Tech Industry
Yesterday
382
Is the excessive influx of unskilled immigrants the reason we have coding interviews even for mgr and very high IC roles
Fitness
Yesterday
996
Is this enough weight for bench press
2024 Presidential Election
Yesterday
691
If You’re Paying Attention, Biden Just Told Us How Democrats Plan to Rig & Steal 2024 Election.
Working Parents
Yesterday
679
Newborn born today, already struggling with sleep
Tech Industry
Yesterday
1699
Woman’s offer rescinded due to pregnancy
Only if they pay you more than $600. Zelle is excluded from reporting per rule since it's bank-to-bank (the ones who created it and lobbied Congress to slow PayPal, Square, etc., with reporting requirements). So only use Zelle.
I have a handful of transactions over $600 in Venmo. Should I be getting a tax form? I did not make any profit from these transactions at all other than maybe credit card points.