My wife uses Poshmark to sell clothes and she received a 1099-k. I was wondering if any body knew if we can report her Poshmark earnings as a side business?

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How much of 1099-k did she receive?

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You cannot take mortgage interest on your posh mark clothes sales- with only 33 transactions that means you had some old clothes laying around you wanted to sell. If you have a yard sale for example, you can’t expense your driveway lol. If you do stuff like that, you’ll get audited 100% and they will nit pick everything. If this is an actual business for her though/ what you can do is expense storage costs at a rental storage unit but it has to be 100% used for the business. I don’t think that’s your situation though

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report it on schedule C of your 1040. Be sure to add all costs and expenses

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