I received a 1099-K from PayPal comprising three transactions- two of which were class action settlement payments and one which was some cashback from online shopping. I believe all three are effectively rebates/non-taxable.
I'm a bit confused by the new un-numbered question at the top of Schedule 1: "For 2024, enter the amount reported to you on Form(s) 1099-K that was included in error or for personal items sold at a loss."
Reviewing the 2024 Instruction 1040 https://www.irs.gov/pub/irs-pdf/i1040gi.pdf (page 84), it suggest to use this field for personal items sold at a loss, and 'incorrectly' shown payments. The thing is, these were in fact
