Hello. My husband bought and sold sports cards online last year. The 1099K says there were 75 transactions in total. The amount in "income" was a little over $19k.
His expenses for purchasing the cards, supplies, etc. most likely exceeded the income, however, we have only been able to pull together about $17,500 worth of expenses - there are 109 separate transactions for expenses.
I am uncertain how to enter all of this information and if I have to enter each separate item. I could possibly allocate each box purchased to the sale of cards, however, how would I tie in the supplies?
Thanks!