Paypal vs bank account vs taxes

[Icecube]

if you have x euros on paypal, should this amount be counted towards your earnings ( I mean for taxes )?

or do they become "real earnings" only when you move the moniez to your bank account?

sounds stupid but I don't know how it works

 

[supportomatic]

Treat paypal like a bank account. The money's "real earnings" when it hits paypal...

 

[subigo]

In the U.S. paypal doesn't report your earnings, but they will, starting in 2011. You'll be reported if:

1. receive more than $20,000 in payment volume in a single year; and
2. receive more than 200 payments in a single year.

https://www.thepaypalblog.com/2008/08/proposed-irs-reporting-requirements-become-law/

 

[Icecube]

I'm way below that amount, and I ask about this exactly because I want to do things the proper way

thank you

 

[imincognita]

In the US, where the IRS is concerned, it's income when you have "constructive receipt." Once it's deposited into your PP account, you have constructive receipt.

 

[shitzu]

In the US, where the IRS is concerned, it's income when you have "constructive receipt." Once it's deposited into your PP account, you have constructive receipt.

How does this work when Paypal freezes, or holds money in your account? You've got it, but you don't got it...