[luzl78]

Originally Posted by RamAirBirds

Yes, If you use paypal friends and family it is not to be included on the 1099-K form and yes you can deduct the cost of the goods along with expenses related to the sale. Basically just like a real business. This is why when you get a 1099-K you will report that income on a Schedule C (business income) along with your 1040. This is where you will deduct cost of goods sold, expenses such as shipping, Packing Supplies, Mileage to and from UPS, USPS, Fed Ex etc.
All that is good but you are creating the requirement to do something most people are not used to doing. Also Ebay and Venmo don't have a friends and family option.
This is starting to sink in with people and the new hiring quota for 87,000 new IRS agents will certainly be a game changer. People will eventually catch on but as usual it will be a little too late. Of course we are all supposed to be paying tax on any income or profit made from a sale but again, this is going to be very new for most people. the new Agents are not being hired to go after the rich or the big corporations. The best scenario is for new Congress to do what they said they would do and block the funding for this massive increase in agents. But of course this was before we gave away the farm in the past week. Out of respect for this Forum this is as deep as I should go. Love this site, A great resource. This is just good to open the discussion a little bit. It is not Political as much as it is Fiscal so Im trying to do my best to keep it at that. Respectfully to all readers.

I applaud you being tactful but you are correct, the fiscal life of all Americans is screwed.