I sold some hobby related items that I had purchased over the course of some years. I spent $4,400 on the items, then sold them for $9,600 (rough numbers). Would I enter $9,600 in the hobby income line and $4,400 in the expenses line, or just $5,200 (subtracting what I paid for the items) in income as that is my actual profit? (I'm not including expenses like vehicle use, etc in any of these numbers.)
