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> pay service providers, send money to family how does the recipient of a zelle transaction know if it’s tax worthy (aka needs to go on 1099) or just sending m
by MuffinFlavored 4y ago
> pay service providers, send money to family
how does the recipient of a zelle transaction know if it’s tax worthy (aka needs to go on 1099) or just sending money to family? i don’t see a way to “tag”/“flag” transactions
same goes for cashapp
- the_reformation 4y agothis is a feature, not a bug
- MuffinFlavored 4y ago> Zelle® does not impose taxes on transactions made on its network. If payments you receive on the Zelle Network® are taxable, it is your responsibility to report them to the IRS. If you have any questions about your tax obligations, please consult with a tax professional. Got it.
- xboxnolifes 4y agoI would assume the recipient would know if they exchanged a good or service to be taxed. Usually family members know they are family members.