Paypal Changes for 2022

@thyname-

     "More likely a personal item kinda thing, that you cannot take a tax loss for, or a hobby classification." 

     Read the second paragraph under, "Who Will Receive Form 1099-K in the Future?", of the article below*.

     If you are 1099ed: you're being considered in business, to one degree or another.

     If you're being taxed on the sale of ANY asset, the initial cost of the asset (as well as sales fees, shipping, etc) should be deducted to determine your tax liability, unless you just like paying something you don't owe.

     Any business I've ever conducted, has been taxed account to profit/loss statements (Schedule C).

     * https://news.bloombergtax.com/tax-insights-and-commentary/new-form-1099-reporting-coming-in-2022

       Here's what the current administration would LIKE to do:

        https://crsreports.congress.gov/product/pdf/IN/IN11772     

@thyname:

     Don't know if you got my answer to your query (01-11-2022  7:36 PM), before it was so rudely cancelled.

                                              Once again:

          https://www.investopedia.com/terms/c/capitalloss.asp

     For some reason: my reference to fiat money, who actually owns the Federal Reserve, the economy and how they all relate, got cancelled (pathetic).

                                       I expect: this will as well.

       Before it does: anyone interested in the facts regarding the above (and more), should copy/paste this in their search bar, obtain and read the book.

https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212

                              Oh, look: It's snowing!

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

                                      (hint: it ain't YOURS)

Fines are a penalty for doing wrong.

Taxes are a penalty for doing right.