Hello,
I’m a collector and recently (before 2026) bought a couple of blind boxes, where the contents are unknown, and there’s a chance of getting different items or duplicates. When I received a duplicate of an item I already owned from a previous purchase, I decided to set it aside and resell it for less than the original price. My intention wasn’t to make a profit; I simply didn’t want to have multiple identical items, and blind boxes are not returnable items so I could only resell them on Mercari, I know I won’t receive a 1099-K form them because I didn’t hit their threshold for that.
Now, I’m wondering if I need to report what I made from the sales or not? If not, should I simply not say anything about it? Or, is there a specific form I need to fill out? My primary intention was for the purchase to be for personal use, but since I don’t require duplicates, I opted to resell them.
I would really appreciate an answer for my question. Thanks in advance!
If you sold an item for less than you paid for it, you did not make any money on the sale. You have a loss. When you sell a personal item at a loss, and you did not get a 1099-K, you do not report the sale on your tax return. There is no form to fill out. You just don't mention the sale at all.
A loss on the sale of a personal item is not deductible.
If you sold an item for less than you paid for it, you did not make any money on the sale. You have a loss. When you sell a personal item at a loss, and you did not get a 1099-K, you do not report the sale on your tax return. There is no form to fill out. You just don't mention the sale at all.
A loss on the sale of a personal item is not deductible.