This year I sold roughly a gross amount of $700 of personal items on Mercari, for less than their purchase pric, but I do not have the receipts Do I need to file a 1099k?

[lalalalinz]

Meecari automatically sends me a 1099k form if I exceed selling a gross amount of $600. In my situation, do I need to file it?

[Bsch4477]

You don’t have to pay tax on personal items that you sold for less than you paid for them. If you do receive a 1099-K you have to report it but you can report it as miscellaneous income and zero out the amount by reporting miscellaneous income again as a negative number. Keep good records documenting your sales. 

[lalalalinz]

Thank you for your help! I will have an excel spreadsheet of all of my sales at the end of the year. However, it does not have the original value of the purchase price on it. Only what I sold the item for. Do you think this will be sufficient enough? 

[rjs]

Whether or not your spreadsheet is sufficient, there's nothing you can do about it now. Just file your tax return as Bsch4477 suggested. It's not likely that the IRS will question it or ask for more information. If they do, give them your spreadsheet and explain that the items you sold were used personal items and you do not have records of the purchase prices. My guess is that they will understand and accept that. But again, it probably will never come up, because they are not likely to question it in the first place. There are going to be thousands of people with similar situations this year.