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I received a 1099-K from PayPal this past year for buying/reselling things. What category do I expense the retail price of the items I bought?
For example, I purchased item A at 100 and sold it for 200. The 1099-K will show my profit as 200. How do I account for the 100 used to purchase the item?
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‎January 24, 2021
12:48 PM