You've answered, and it is appreciated but I want to be absolutely crystal clear I understand correctly:
Sale of a dozen old unwanted household items that cost $1000 to purchase.
I sold them and eBay says I received $800 in proceeds (tangent: I assume this includes gross including shipping fees I collected?)
I report the $800 income from the 1099-K.
I then report -$800 as my cost to purchase even though it was more than that ($1000).
Is this correct? I assume I have to be able to show receipts as well during my audit in 2031.
