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I received a 1099-K from PayPal for 17,000 for selling our unworn or used clothing or toys - do I need to file as self employed if I paid more than I sold them for?

 
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MichaelDC
New Member

I received a 1099-K from PayPal for 17,000 for selling our unworn or used clothing or toys - do I need to file as self employed if I paid more than I sold them for?

No. You would report this only if you sold it for more than what you originally paid.

Most of the time, personally-owned stuff like cars, appliances, clothing, furniture, and other household items decrease in value after the initial purchase. If you later sell them, it's almost always for less than what you paid, so there's no gain to report. (Or loss – the IRS won't let you deduct losses on personal items.)

If you have any other details regarding this question, please feel free to post them in the comment section. 

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