Question for U.S State
of NY Ref 1099K
I just received a notification from Paypal indicating I could get a 1099K if
I sell over $20,000 gross AND have over 200 transactions
I'm around the $15,000 figure so far and at this pace, I will most likely go over the $20,000 figure.
Can I continue selling via Paypal until I reach about $19,000 then use a different Merchant i.e Amazon to continue selling?
Merchants do not send 1099K if the above mentioned conditions are not met.
Theoretically then, I could have an account with two different merchants; Paypal- Amazon, and sell up to $19,000 on each.
I will be able to sell more than 20k total and avoid receiving the 1099k.
Is my assestment correct? Is it legal?