It depends upon the nature of the sales activity. It would be helpful to know how the income was reported on the 2024 income tax return.
Are you:
- reporting the income and expense as self-employment income on Schedule C?
- reporting the income as personal item sales on Schedule D of the Federal 1040 tax return?
- reporting the income as hobby income on Schedule 1 as activity not engaged in for profit?, or
- are you reporting the income in some other way?
IRS form 1099-K is an input form. How the income (and expense) is reported depends upon the nature of the income, not the input form.
Please clarify and someone will be able to assist you.
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