The amount on the 1099-K is the 'sale price' for schedule D. When it asks how much you sold it for you should enter that number. You'll also enter the date that you sold it.
Then you'll enter what you paid for it. Now, be careful here - you are not allowed to lose money selling your personal items. So the biggest number that you can enter for what you paid for it (if the item sold was personal) is the same as the amount on the 1099-K, which brings the result to zero and makes it non-taxable.
If this was a business loss then you would enter the full amount that you paid regardless of whether that is bigger than the 1099-K amount. That will result in a business loss.
@thewinedown
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
