Opened account for freebet and play couple soft lines I noticed. Tried depositing via ACH, their ach limit was only $100 though?? Deposited low four figure amount via PayPal due to no other accepted payment method, here’s my issue...their FAQ says ACH is always an acceptable withdrawal method, as long as a minimum $10 is made via that method.
Won this weekend and tried using ACH deposit today to deposit $10, was told the system is down for the foreseeable future. Was told I can’t withdrawal via ACH. My only option? To withdrawal via PayPal. Problem is, I don’t itemize deductions and I run a side sports memorabilia business through PayPal...why does this matter?
PayPal sends IRS a 1099 for total payments received. Thus I don’t want a full payment of my balance since my balance is deposit + profit. Plus I don’t want mix sole proprietorship income with gambling.
Any advice?