Yes, the activity you describe is considered self-employment income.
The 1099-K screen should be answered based on the form you received, so it would be PayPal and their EIN.
If you haven't formally created a business name, leave it in your name.
You can use 999000 as your business code since none of the other codes describes this activity very well.
Use your own name and address as the name and address of the business.
Accounting method should be cash. That just means you report your income when you get it.
Yes, to material participation, this means you are working for this money, not just collecting an investment.
No, to Required to file 1099. This question is asking if you paid others and you need to issue 1099 forms to them.
Yes to Qualified Business Income (QBI). This is a self-employment activity with a net profit.
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