1099 for a non sold item

Question

so a buyer bid twice and made an offer and once the item sold to them they wanted to cancel the order. I now have a 1099 for the sold item that is currently relisted. don't want to pay twice the amount in taxes when I haven't sold the item yet in the first place.

wooden_flower · Answer

You only get a 1099k if there was a payment. You only pay taxes on your profit, so if you refunded the payment, the full amount is your cost.

See the section here for personal items sold at a loss (no profit is the same as a loss) on how to record your 1099k -

https://www.irs.gov/businesses/understanding-your-form-1099-k