does cash app report personal accounts to irs reddit

Starting January 1 2022 if your Cash App Business account has gross sales of 600 or more. You just need to report on your tax return any income from selling items offering service earnings.


Venmo Paypal And Zelle Must Report 600 In Transactions To Irs

If it is a gift by the legal tax definition you do not have to report it as income.

. Personal Cash App accounts are exempt from the new 600 reporting rule.


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