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Get your taxes done using TurboTax
@Hal_Al wrote:Q. So I am understanding that if we receive a 1099K from paypal that we don't have to include it on our taxes if the price we sold the items for was less than the original purchase price. Is this correct?
A. Yes. It's that simple.
Where do you base this answer on? Any official source / link from IRS? Thank you
‎February 1, 2022
2:10 PM