Paypal Changes for 2022

Well, I've about reached the end of my knowledge on this issue. I didn't realize that Paypal itemized all of the transactions.

That’s OK. I appreciate the effort

You would normally list any income and account for a 1099 on Schedule C. On this schedule you have the opportunity to deduct expenses. In our case we would deduct the original cost of the item(s).

Schedule C is for self employed people. Business. I ran no business. This is my audio hobby. 

Any CPAs here? Let’s put this out there. Example:

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Say for example, I sold something for $1,000, that I bought a few years back for $2,000. Clearly a loss. It’s reported in that 1099-K form that also gets sent to IRS. What do I do with the form? Do I ignore it? Or do I have to report it in my return, and if so, how? Which schedule? Again, not a business, just an audio enthusiast upgrading.

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I appreciate it.

Ok. Loud and clear? How about a little love for the government. They are simply looking to redistribute wealth from those who have earned it to those who have not. Pretty simple, I give my money from my stash to those who have done nothing to merit such a receipt. I work hard, accumulate assets with post tax dollars and then sell such assets at a profit or loss and then pay a tax on those sales. Yup, makes sense to me. Moving closer towards a socialist state with every passing day. 

       Combine The & IRS, for the way your loving gov'ment views what you've worked for, all your lives.

                                      (hint: it ain't YOURS)

@rodman99999 may I humbly suggest you establish a militia?
 

Don’t you have other internet sites for this kind of stuff?