I live in Virginia and started selling some used personal property on eBay/Paypal (like a big garage sale, generally at a loss). How do I file a 1099K that Paypal sends?

[Beldorx]

Items have sold for less that $2K total, either at a significant loss or break even.  Likely will be less that $4K for the year.  Do I ignore the 1099K, or put it down twice (once as income and the value again as a cost/loss)?

[TomD8]

See these TurboTax informational pages:

https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-tax-filing-factsheet-for-ebay-sellers/

https://turbotax.intuit.com/tax-tips/small-business-taxes/what-online-business-owners-should-know-ab...

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-1099-k-in-turbotax-online...

[Hal_Al]

Q.  Do I ignore the 1099K, or put it down twice (once as income and the value again as a cost/loss)?

A. Either way.

For the ignore answer, see: https://ttlc.intuit.com/community/taxes/discussion/received-1099-k-from-reverb-and-paypal-but-sold-o...

For how to put it down twice, see: https://ttlc.intuit.com/community/taxes/discussion/do-i-need-to-report-a-1099k-from-paypal-even-if-i...