
Anonymous
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Get your taxes done using TurboTax
This is an interesting situation. Since these are personal items the losses cannot be reported, but because eBay sent you a 1099K - if you don’t report the gross income from the 1099-K the IRS will trigger an automatic audit. So as I understand these personal sales should be reported as Investment sales and one should report the “expense” for the investment sale to net out the income (without doing a Schedule C).
April 7, 2022
5:44 AM