I received a 1099-K from eBay for $1,361.78 as a hobby seller. The items were sold for less than what I paid for them at a loss. When I enter the amount under "other income 1099-k cost of goods sold" as a loss, do I need to enter the actual amount I paid or just the $1,361.78 to off-set? If I enter the actual amount then my refund increases but from what I read on IRS.gov it can only off-set and should be a net zero.
