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Deductions & credits
If it's not income because it is personal use items sold at a loss, what form is the 1099k inputted on in the tax return? I moved to a state with a $600 reporting threshold and I am now receiving the 1099k. I realize you can't "deduct" the loss, I just dont want to pay tax on yard sale items that the IRS deems not taxable and I don't want to omit the 1099 and trigger an audit.
‎January 25, 2021
9:33 PM