<p>I've made a lot of income in the past 6 months with my venture, but I don't have any formal proof of it. Should I list my income anyway? Is there any possibility that top tier Ivies, Stanford, etc. will ask for a bank statement or Paypal statement?</p>
<p>If you’ve processed over $20k in payments, Paypal will send you a tax form in the mail and will have reported it to the IRS.</p>
<p>Surprise!</p>
<p>I assume you are talking about verification of the activity you are listing in common app and not verification for financial aid purposes. I was going to say it is extraordinarily unlikely anyone will ask for proof of income to verify an activity, but in fact I believe it will never happen. If you are a domestic applicant and your app seems appealing but there are concerns about your credibility, a school might reach out to your GC or recommenders to follow up. If you are an international applicant, schools do sometimes investigate in other ways, but never to the point of verifying income for purposes of admissions.</p>
<p>^agreed. All that money will be nice to spend but really won’t be any evaluative boost to your college admission. What a tragedy!</p>
<p>JK. Best of luck to you!</p>