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Deductions & credits
I live in Illinois and received a 1099-K from PayPal as well for $5,800 in sales.
In 2020, I bought and sold sports cards/memorabilia that I have found from when I was a kid. I bought these 5-20+ years ago and have lost money on the majority of them from when I originally purchased them. The IRS wants to take over $2,000 away from my return because of these sales. Is there any way around this? I didn't make any money off of them. I'm simply decluttering stuff from my house, but doing so like a garage sale online. I had a whopping 11 card sales in 2020 so it's not a lot.
‎February 5, 2021
9:46 AM