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Deductions & credits
I went back and looked over each transaction from PayPals 1099-k and there weren't any Etsy sales--I was mistaken. All of it but $250 was money for goods sold that I was getting rid of around the house, whether it was sold on eBay or Facebook Marketplace. The $250 was where a relative paid me to make a cake for a wedding. So the entire $682.24 needs to be accounted for under hobby income? I'm not running a business at all doing this. I didn't know if I could just put down the 250 for the cake as hobby income and not count the rest. But then there would be a discrepancy on what the IRS sees from the PayPal form.
I apologize for the confusion--this stuff is hard to understand and I don't want to do the wrong thing. Thank you!
‎February 9, 2021
5:08 PM