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Reply to "So people will be taxed on venmo and zelle transactions?"
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[quote=Anonymous][quote=Anonymous]I never gave venmo my SSN, and they limited my account so all I can do is transfer money into my bank account, and all payments have to go from my bank account (vs. using money that is in venmo to pay other people, for example) I'm assuming that means I won't get a 1099 from venmo, since the bank eventually gets all money, right?[/quote] It depends. What were you paid money for? If it was for selling things or providing services then you still owe taxes. Having it go into your bank account later doesn't change that.[/quote]
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