I originally purchased a projector from Indiegogo kept few months and then sold it to an individual, he paid me through paypal in two transactions - firstly used projector transaction amount $2900 and another transaction for shipping fees $305 which gave a total of $3205, out of which paypal deducted seller fees from this overall two transactions $86.71 + $9.12 = $95.83 giving me back net amount $3109.17, out of which I further paid fedex shipping $129.69 and I got final amount of $2979.48 in my pocket and I originally purchased this as new projector for $3299 in year 2022, hence sold it for a loss of amount -319.52$, So, I sold it for a loss or less money. I have all the fedex receipts, original projector online receipt as well. Please advise and guide me with the steps once the paypal would generate the 1099K for this transaction, how to report it in Turbo Tax online deluxe or higher version so that I do not have to pay taxes on this transaction which was actually a personal item sold for less and incurred a loss on this resell of a personal item. Thanks in advance.
