Question

How do prevent filing of 1099-K for online Garage Sale Exemptions (NOT capital gains)

Forum|Forum|3 years ago
August 31, 2022
1 reply
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I have for decades sold old computers and parts at a loss (after many years as they became obsolete) under the Garage Saleexemptions (no capital gains from selling), but it appears that Paypal/Ebay/and others will be reporting ALL sales to the IRS as if they're gains.. How do I prevent this filing, or record it as NOT a gain before or during tax season?

D

deforAuthor

I should specify, My hobby involves often buying many thousands of dollars a year in hardware to use for a few years, but when I'm done, while the items only sell for a few hundred, I easily sell more than 600$ a year of these used items that I'm making a net loss on.