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August 31, 2022
Question

Using PayPal and CashApp for money transfer

  • August 31, 2022
  • 1 reply
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If I’m using PayPal or cashapp to receive money from family to pay toward school, is that required reportable income? It’s almost like child support, but it’s not, by law. 

    1 reply

    August 31, 2022

    If the money is a gift there are no tax consequences for you.