Ebay 1099K Personal Items Question
Hey there, was hoping someone could give me some clarification about the proper way to handle my situation.
Started selling last year on Ebay, sold 15 items total just over 5k, and received a 1099k. These were all personal items I purchased years and years ago and were sold mostly at a loss. The 5 items that I did profit from I entered item by item under the "Investments and Savings" section. Since the rest of my sales of personal items were losses do I need to add that anywhere? Do I still need to fill out and attach a Schedule 1 Form 1040 to zero out the number that is on the 1099k I received from Ebay or is that it?
Pardon my ignorance and I hope I've explained my question clearly. I really appreciate any guidance you can give me, thanks for your time!!!
Answers
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Hello,
I recommend this discussion about Selling personal used item on eBay. There are instructions and a step-by-step guide.
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Thank you for the follow up, I really appreciate it! That post really helped!!
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