Hi, I sell used items occasionally (once or twice every few months) on Ebay. I do not consider myself a business nor is this a hobby. I am trying to get rid of personally owned items because I am moving. I have tried to research what the impact of this 1099k would be. Based on some online research i found from r
tax experts in states that already have had this requirement for 1099k, the answer I gleaned was that I should not have to process this as a hobby or business because it is neither- to just do nothing with the 1099K. If I was making a profit off of selling an item, it would be capital gains, is how I understand it. Again, I am selling personally owned property that I have had for years. Is my understanding correct here?
