Right so it's looking at overall sales and income. So if for the year I sold $10,000 in tickets and sports cards and after calculating my cost basis I was $11,000 in costs, then it's an overall loss. I think some of people think transactional on this thread because maybe they don't do more than 25 transactions in a given year and some of them would be selling at a loss. So if I am truly after costs losing money then I would not pay any taxes on the $10,000 reported on a 1099K correct?
