Taxes and squae up card reader?
Asked by: livingeditor
I have used the square card reader for my phone, and a personal friend has let me use his credit cards for some personal loans. Square up is usually used by business but this has been all for personal use, they take there fee for every swipe, and I pay my friend back monthly……Will I still have to pay taxes on this money?
I also know that they will send a form to IRS for taxes…what do I do about this…?
NO SERVICES OR PRODUCTS WERE EXCHANGED..PURE PERSONAL LOANS
How others found here:
- do you pay tax on your square swipes
- does square report to irs
- does square report to the irs