Pay pal and the 1099 k form

[AFAustin]

I read and participate in an online personal finance site, Humble Dollar, which I think is excellent. It's run by Jonathan Clements, who was the personal finance columnist for many years at the Wall Street Journal. This article, by a contributor and CPA, has a good discussion of this topic: HD article

I took the opportunity to ask him questions specifically about how to handle my occasional knife sales and he was kind enough to provide detailed answers.

Andrew

 

[Peter Hartwig]

Tha

I read and participate in an online personal finance site, Humble Dollar, which I think is excellent. It's run by Jonathan Clements, who was the personal finance columnist for many years at the Wall Street Journal. This article, by a contributor and CPA, has a good discussion of this topic: HD article

I took the opportunity to ask him questions specifically about how to handle my occasional knife sales and he was kind enough to provide detailed answers.

Andrew

That fills in the gaps, presuming you have records . Unfortunately having those purchase records is where many here are going to be lacking. With records we have no or small gains, without they could be substantial if the whole sales price is considered a gain.
But thanks for the post. It was very logical IMO