@ABALLIETT got a 1099-K from Paypal, not a K-1 and this so obviously does NOT belong on SCH C....it's crazy to even discuss it. This is nothing more than a guy selling off a collection of personal items that happens to be collectibles. The sales belong on Form 8949 (SCH D) and @ABALLIETT should be able to deduct his bases from the selling prices. The tax rate on the sales of collectibles is 28% but at least the seller should not be subject to self employment tax as if this were a SCH C business.
