This is my second year with a 1099k from eBay sales. I sell personal items, collectibles, and some finds from garage sales. Making a profit on some of the vintage stuff and loss on personal items. Last year my 1099k was from PayPal and this year from eBay after they took over managed payments as my state of Illinois requires reporting over 1000.00. eBay only accounted for my sales on my 1099k that they took over payment processing for and the earlier year sales of about 721.00 through PayPal I never received a form. So do I enter this on a second line under my 1099k as other sales?
I also deducted a home office last year using the simplified method but no longer have it this year so I’m assuming I leave this blank? I also took full depreciation of a computer in the amount of 686.00 that we purchased in November and put in use in December. Well this year I’m not using that computer since about February as I got a tablet from work and gave this to my son I noted this on my turbo tax return will turbo tax automatically complete the recapture and deduct what I need to repay to the irs? Also,I have no inventory and left my cogs blank last year and counted everything as full profit, can I do the same this year as I have no receipts and don’t want to make up costs or will this cause red flags with the irs? I’d rather underclaim then over with regards to this, I did deduct my eBay selling fees, office supplies, shipping costs, and PayPal fees. I did put my shipping costs under office supplies but I think I should have listed these in miscellaneous, any help would be greatly appreciated.
