Does income in my paypal account need to be declared for tax purposes, or does it just have to be declared for tax purposes if I transfer my paypal funds to a real bank account?
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Yes, you have to declare it. PayPal is technically a "real bank account", albeit virtual with lots of bells n' whistles. |
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Income is income, the method of payment is irrelevant. You should be declaring it if it's in a bank, in cash, or barter. |
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