Let's say I bought one knife in 2021 and paid $900.00 and then sold it in 2022 for $800.00 to buy a different knife. You're saying that I will get a 1099K in 2022 for the $800 (because my intake exceeds $600) and this will be considered income, but I cannot report the fact that I paid $800 and therefore experienced a $100 loss?
