I received a 1099-K from Paypal that included cashback for online purchases and payment for an item I resold.
I understand that the cashback would not be taxable income. How would I file that amount on my return in order to be not taxed?
The payment I received for reselling, is that taxable even if it's a hobby to sell 3-5 items a year? If so, do I file its original cost as an expense on Schedule C? What if the item was bought in 2020, but then resold in 2021?
