posted on February 1, 2002 03:26:19 PM new
PayPal users who received dividends through our Money Market Reserve Fund in the calendar year 2001 may receive a 1099-DIV form. The IRS requires us to send this form for tax reporting purposes as it summarizes the dividends received last year.
You will receive a 1099 if you received more than $10 in dividends for the 2001 calendar year.
· The form will be sent in late January to the home address on file with PayPal.
· You should receive the form in early to mid February.
You will not receive a 1099 if you received less than $10 in dividends for the 2001 calendar year.
· Pursuant to IRS regulations, 1099-DIV forms for the calendar year 2001 are not required if you have received less than $10 in dividends during 2001 with no backup withholding.
· If you received less than $10, because a 1099 form is not required by the IRS, neither you nor the IRS will receive one.
If for some reason you do not receive a form or would like to calculate the amount of dividends you earned in 2001, you can do so by viewing your History Log. From the dropdown menu, select “Dividends” and extend the time frame from January 6th 2001 to January 6th 2002. Note that your dividends for December 2001 may show up in your PayPal History Log as a transaction in early January 2002, but they are credited to December 2001 for purposes of calculating your annual dividends.
