Personal Use

[Lovelyp]

I used square only for personal use. Mainly to convert gift cards to cash, I don’t have a business. I stopped once I realized that is against square’s terms of service but I stupidly forgot about square being required to reports taxes over a certain amount. How would I handle that as my “sales” were not actual sales or income from another person? All of the money belonged to me.  

[TheRealChipA · Accepted solution]

Hey @Lovelyp.  This is a question for an accountant or tax professional.  We are not permitted here to give financial advice of any kind, per the Community terms of service.  You’ll need to talk to a professional tax preparer and possibly enlist the assistance of an attorney, depending on how much money is involved here.  Yes, that will cost you money for their services, but it will be much less than what will happen if you are audited, so don’t skimp or skip the step of talking to someone soon.