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I was concerned because I couldn't find the specifics on what payment tags would lead to income reporting. Here's a better article that addresses that clarifica

• Talanes 5y ago
  >Venmo describes a “goods and services” payment as when senders tag a purchase as such, whether it’s for a product you sell or a service you provide. I think this is the most relevant line. Goods and services is a specific opt-in tag. All the other quotes left it unclear if the completely fanciful descriptions that get put into Venmo payments were actually going to become tax-reporting criteria.