I should be getting a 1099-k this year from Paypal. I sold my baseball card collection. I sold probably 25k and made $650 after fees, materials, etc. I sold many for a loss because I had some from 2015 that have gone down in value. I buy and resell cards, some I grade. Do I have to do a Schedule C and do I count the profit as business income? Thanks.
$25k AND 200 transactions earn you a 1099 from Paypal.
it is up to you,the profit is small,I would not bother withe schedule C,you would report a loss if you use the schedule as you can deduct use of you car,home office etc.
