Paypal Changes for 2022

Last year I received around 10K in sales of stereo equipment via 11 transactions using Paypal. On 10 of the 11, I took losses....with a small profit of $100 on 1 sale. If this was the case in 2022, I would receive  a 1099 despite the fact I had losses totaling around $900. In some cases, the purchases go back further than PP or AG, AM, E-bay keep records of....so no receipts. I do not run a side business, this is a hobby.  How would I be able to report the offsetting losses in my tax return?

Hopefully somebody here can answer the question of how to report losses to offset  "income"  when one receives a 1099k in 2023. Unfortunately,  IRS will not answer questions regarding tax laws over the phone! I don't have an accountant, as I do my own taxes.

The IRS has released an example of someone who has purchased a couch for $1200 and sold it for $800 on E-bay. This would NOT be taxable "income" despite the fact that Paypal would send out a 1099k. No different for those of us receiving less than we paid for stereo equipment. My question remains what IRS form/schedule will be needed to show such offsets?

@ghasley 

I agree. However the 1099K would show income of $2300. My question is how do you report this on your tax return? My research seems to indicate "Other Income" on the 1040 and then Schedule 1, Line 2z and then Line 24z for the 2k offset. Then the 2k adjustment on Line 10 would be subtracted from the 2.3k on the 1040 with tax owed on the $300. Only a profit can be taxed. A separate statement/worksheet is suggested to show each transaction.