Hi @Sundayimani ,
Thank you for your insight and feedback!
So yes, totally hobby income, and I'm not really looking to deduct any loss, like I said I've just been selling off old goods. For instance, I've been selling older records because I've learned there has been interest.
For the purpose of the spreadsheet, some are so old it's hard to remember what I paid for them, and receipts are long gone. Can I estimate what I paid for them back in day? Or would you recommend finding a current value vs. what I'm selling them for, and showing the difference? In the end, I just want to cover myself when it come to the receiving a 1099, and showing that I'm only selling personal items less than value for the most part.
Thanks again!
rjs
I
