Paypal Changes for 2022

I am making copies of my PP transactions while they are alive on the site and saving them in Excel format for easy searching. I am also keeping a notebook to describe the transactions and putting those transactions in with my tax files as they occur. Also, I put all my emails from Paypal or purchases for audio gear in a folder called 2 Channel as a triangulation set of data, especially purchases. Say, when you buy a piece from a dealer and you get a receipt, then you compare that to your Paypal sale as a loss down the road. So, in essence, this is making us have business records.

Hopefully somebody here can answer the question of how to report losses to offset  "income"  when one receives a 1099k in 2023. Unfortunately,  IRS will not answer questions regarding tax laws over the phone! I don't have an accountant, as I do my own taxes.

@lula 

You do not get to offset losses against gains. Thats the current tax law.

The IRS has released an example of someone who has purchased a couch for $1200 and sold it for $800 on E-bay. This would NOT be taxable "income" despite the fact that Paypal would send out a 1099k. No different for those of us receiving less than we paid for stereo equipment. My question remains what IRS form/schedule will be needed to show such offsets?

@lula 

In your example, lets say you sell two couches. You paid $1,200 for each. You sell couch one for $1,500 and six months later sell couch two for $800. You owe tax on the $300 gain. You get no benefit or offset on the $400 loss from couch two. In order for you to offset those, it must be a business.