PayPal Friends & Family listings. Why is this becoming so common?

Example to the above... If I buy a used amp that sold new for 5000 and I buy it for 2500. I then eventually sell it for 2000. If I get a 1099 for 2000...how would I prove a loss at any of the above example? I wouldn't have an documentation to support my loss based on second hand sales.

I've bought and sold gear here and on AM for 35 years. The above example is always a huge fear. Thankfully its never happened to me. Although anything of great value I'm extremely careful on who i will sell too.

Question for all- I thought the IRS put on hold the demand for PP to disclose any transactions over 599.00,. or the issuing of a 1099. Is still the case ?

Any and all info on this would be greatly appreciated.

I'm not trying to hijack the thread...but feel this is relevant info regarding the OP original question.

I was in on the ground floor...okay on AGon 28 years. Your a complete ahole if thats what you got out of my question. And buying and selling locally before that.

WTF is wrong with you ?

OZZY- Are there daily limits with Venmo ?