Hi guys, I could really use some help:
I got a 1099K from PayPal in the mail today, and it says I owe taxes on $14,000 in PayPal income. About $10,000 of that was from Coinbase withdrawals and the rest was from sports card sales. The catch is, I lost about $11,000 on Roobet. I live in the USA as well. How on earth do I do taxes the most effective way without getting taxed on all of it? Specifically for the Coinbase/Roobet stuff. Any answer would be greatly appreciated. Thank you.