Thanks for your input.
My 2022 (6) transaction eBay sales amounted to $1440 which I believe will be reported next year on an eBay-issued 1099K. My total cost of goods, sales fees, shipping charges, packaging and misc. expenditures amounted to $519 leaving a profit of $921 which is taxable. Given the fact that I’m retired, fixed income, I have estimated my standard deduction federal taxes for 2022. Taxes on $1440 would amount to $316. Taxes on $921 would amount to $202 or $114 less. If Congress does nothing, which they excel at, do I want to risk an audit over pocket change, I think not.
I did make the (2) entries you suggested and they posted the reduced amount of $921 on 1040SR Line 8. It would be great if I could post an adjustment of $519 that would post on Line10. Do you believe the IRS would accept the -$519 income without question?
