Two more deduction questions:
1) Can I claim loses from sales if I sold to make money?
2) Can I claim loses from sales if the item was a personal item (e.g. digital camera) but sold it for less than what I paid for originally? The purchase of the camera was from a few years ago.
Example:
Bought the camera 3 years ago for personal use. Sold it on eBay and lost $500 from what I originally paid. Can I reduce $500 from my profits? Or would I not include that sale in the gross amount I report from my 1099-K?
