Hi James, thanks for your answer but it brings up a question for me. Hobby or self employment? I'm retired and got into this business to support my hobby of collecting coins. To me, I feel it's more a hobby as I don't need the income. I originally, entered it on schedule 1 but I couldn't find how to claim my expenses (buying stock, mailing cost, and fees). I didn't think taking the amount on my 1099-K, subtracting my expenses, and using that number on schedule 1 would work. It think that would trigger some IRS action because I didn't use the number on my 1099-k.
Thanks in advance for your reply,
John
