This year ebay will send me a 1099K, since I have sold over $600. This is a part time hobby, not a business. Every item that I have sold was purchased by my parents in the 1960s-1970's (no receipts found.) I inherited their items in 1995, when they passed away. The items have been stored in my garage for about 25 years.
For example, they bought a crystal statue for $1000 in 1960. I inherited it in 1995, value unknown. Last month, I sold it for $400 on ebay. How do I show on my taxes to explain to IRS that I did not make $400 profit, even though it will be listed as part of the 1099K that I will receive from ebay for 2022?
