Colmatt
Level 5
12-06-2019
11:44 PM
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Received 1099-K for $2000+ sales of personal items. On-line tag sale items if you will...System wants me to link to C, E, F...I would think maybe D sale of asset and it would end up washing to 0. Could set up on C I suppose as hobby selling misc items. Advice please.
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Ernie
Level 9
12-06-2019
11:44 PM
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Did they sell these items for more than they purchased them?
Colmatt
Level 5
12-06-2019
11:44 PM
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Definitely not
Ernie
Level 9
12-06-2019
11:44 PM
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I would make sure they have that documented. Then I would put it on Schedule C as that is where the IRS is going to look for it. I would enter COGS of the same amount.
You may other opinions.
You may other opinions.