The 1099 is reporting gross sales for used clothing sold on Poshmark. My net proceeds are about $500 less than what is being reported because Poshmark takes a 20% commission. The clothing sold is clothing that I originally bought for myself or my children, so there is really isn't any profit.
At first I tried putting it in as self-employment income, but the problem I ran into was that there wasn't any place to put in the cost of the items sold, only places to put in business expenses like gas, home office, etc.
Reporting it as personal property seems like the right approach, but I still don't know what the correct way to indicate that that there wasn't any profit.
Thank you.
