IRS_is_the_worst
Returning Member

Self employed

Everyone seems to be avoiding the obvious and very specific instance where most of these eBay 1099k questions lie.  The individual tax return, not a business or hobby, where the individual sells a few items at a loss but totaling over $600 in gross sales and a 1099-k is automatically sent to the IRS. Opus' response is the only one that seems to address this but even those solutions leave a lot to be desired. For individual filers there is really no method to deduct the original cost of the items sold. Please correct me if I'm wrong here.