We are a homeschooling family that purchased quite a bit of curriculum over the years that was never deductible. I'm now selling that stuff off bit by bit and received a 1099K form from Paypal as a result. I don't consider it a business, but it seems crazy to have to claim income and get taxes on it for something that I'm actually selling for less than what I originally paid for it. What are my options here to not get dinged by taxes on this income? It's only $500, but I guess my state is one that requires Paypal to issue a 1099K no matter the amount.
Same goes for reselling something on eBay. If I purchased it on eBay and then a few years later, resell it, it's a similar situation.
We do have self-employment income but it's completely different & separate from this.
