How do I set up square for Personal use?

[RiehlTraining]

I'm all basically set up to use Square, but I have to submit what I will use square for. I want to use it for personal use (As in yard sale and what not.) Also, do I have to pay taxes on what I make from using square? Hope this can be answered soon. Thanks!

[Spenser · Accepted solution]

Hi, @RiehlTraining, welcome! You can definitely use Square for personal use, and should see the option to select when up (Individual Use.) Square will report your income and provide you with a 1099k if you process more than $20,000 in gross sales from goods or services in the calendar year AND more than 200 transactions in the calendar year. Read more Tax Reporting here.

Hope that helps! Don't hesitate to follow up with us if there's anything further we can do to help.

[RiehlTraining]

I already set it up as "Casual use - miscellaneous goods." Because I thought that would work best for individual use. Is there any way I can select individual use and if so, how do I access it?

[Spenser]

Sorry, I should clarify, Casual use falls under the Merchant Category Code, Individual Use, so you're good to go already!

[Noradt]

How do I change it  to Individual Use after I inadvertently  chose Casual Use?

[Russell]

Hey there @Noradt - thanks for making your first post to the community. 

We can review your Merchant Category Code and update it as needed by having you contact our Support Team. Post again and let me know if you have any other questions. 😎

[BrSmith]

I need help! 
I thought the business account was the only one i could use. So I’ve been using my business account for personal use. What should I do!! 

[Laurie_]

Hi, @BrSmith, thanks for reaching out to let us know. It can be tricky when you are accepting payments for both business and personal use (such as a hobby)!

As a general rule, you want to always be processing payments with the Square Account that your goods/services are associated with.

For example, if you're providing professional services, you will need to be logged in and trading from your business account. If you are processing payments for a hobby, or personal use, you will need to be logged in and trading from your personal account. 

What we advise in this instance, is that you sign up for a second Square Account that can serve as your personal account. For further assistance with this, please reach out to our Support Team directly and they will be able to provide more information about your recent payments. 

Don't panic though, we're here to help you understand and get the most out of your Square Accounts.

[theluckyleaf]

Is this comment still accurate?

Now it has this "New Form 1099-K Qualifications for the 2022 Tax Year: Beginning January 1, 2022, accounts with $600 or more in gross sales from goods or services in the 2022 tax year will qualify for a Form 1099-K and must be reported to the IRS by Square.

Does this apply when using it for personal or casual use?

[sayra]

Hello @theluckyleaf, 

Happy to see you in our Seller Community! 

The statement above still applies. If your business qualified for a 1099-K you will find your forms in your Square Online Dashboard under > Account & Settings > Tax Forms. If you don’t see it in your dashboard this means your account did not meet the qualifications. 

Please let me know if you have any other questions. 

[Skippy]

This reply was created from merging an existing thread: How do I set up square for Personal use?

How do I set up square for personal use after selecting the wrong section 

[Helen]

Hey @Skippy, go ahead and call our Customer Success team — they can adjust your Merchant Category Code to Individual Use as personal use falls under that category. 

[Skippy]

I had reached out to them via email support and said there is no difference and nothing to change... so which one is it? It does need to be changed or don’t need to be changed?

[Helen]

Hey again @Skippy! The Customer Success team can share more details about your account than I can here in the Seller Community because it's a public forum. It sounds like you're all set now, but if you'd like you can call our CS team directly to confirm or to ask any account-specific questions.