Off set money received from paypal & ebay and which form to send

[avspinball]

My friend found a bunch of old collectible stuff and said I could have half of what ever I sell.  So I've been selling on web and ebay.  I understand I will get a 1099 of some sort from paypal that I will need to declare it as income on my schedule C.  But what form do I need to send to my friend to show I paid for half of the proceeds?  Do I send a 1099 to him?  Should he give me a W9 or something like that?  

Just trying to figure this out.  I will have about $30,000 in sales but only get half so need to cut my income down by half.

thanks

[Critter]

Correct ... you will issue him a 1099-misc just like you got one from paypal & ebay.  Have him fill in a W-9 so you have the info needed to produce the 1099 in January. 

[avspinball]

Thanks.  And I can create one in turbo tax?  I just haven't done one before and don't currently have TT installed.