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I have a 1099K from Paypal for some sales that I did on ebay. I sold all of these items at a loss as these were used goods that I purchased for retail.
I keep getting the error the amount in box 1a (>5000) is too high or includes some personal transactions. Enter the amount that shouldn't be included. The 5000 is all used things that I purchased for far more than $5000 for. I do not understand why I would have to pay tax on $5000 if I have already paid sales tax and COG on these items.
March 11, 2025
5:42 PM