Thanks @Anonymous_ for your reply, This was NOT business transaction and it was between individual to individual and since this was a personal item I purchased for myself and then sold it for less as it was used, so it will generate 1099K as it was above 2022 threshold of $600, so I would still have to report it in TurboTax but in the cost offset I will have to put the cost of the item as it was originally purchased for more and sold for less which will make it effectively 0 with no tax implications on my return? Am I correct? Please advise and clarify if I am not correct. Thanks once again.
