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Level 2
posted Mar 16, 2025 12:57:21 PM

I can't fill in line 24z on schedule 1 (Adjustments to Other income) How do I open a smart worksheet for that line to fill it in?

I can open a smart worksheet for line 8z to put in other income, but I need to adjust the income in line 24z

0 3 1155
3 Replies
Expert Alumni
Mar 17, 2025 11:58:34 AM

Can you clarify what are you trying to enter?

Level 2
Mar 17, 2025 2:42:12 PM

I got a 1099-K from Ticketmaster for tickets that I sold.  Several of the transactions were sales at a loss.

According to IRS instructions, I believe I need to put the gross proceeds in Schedule 1 on line 8z with the notation "Personal items sold at a loss."  Then I need to put a similar amount and notation on line 24z to zero out the gross proceeds.  I can find a way to put the amount and notation on line 8z using a quickzoom to a smart worksheet. I can't find a similar quickzoom for line 24z and TurboTax won't let me enter it directly in Schedule 1.

It says line 24z is automatically populated, but I can't find from where it is populated for the 1099-K.

Expert Alumni
Mar 18, 2025 9:17:29 AM

Consider reporting IRS form 1099-K with items for personal use by following the steps below.

 

The posting of IRS form 1099-K for personal item sales is a two-step process.  

 

  • First, you post the IRS form 1099-K amount of box 1a.  
  • Second, you post the IRS form 1099-B Proceeds  From Broker and Barter Exchange Transactions to report the sales proceeds and the cost of sales.

Make sure that the amount reported on the IRS form 1099-K box 1a equals the Proceeds reported for the multiple entries of IRS form 1099-B.

 

In TurboTax Online, to report Personal item sales, follow these directions.

  

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click the drop down arrow to the right of Other Common Income.
  • Click to the right of Form 1099-K.
  • At the screen Did you get a 1099-K?, select Yes.
  • At the screen How would you like to upload your 1099-K? click Type it in myself
  • At the screen Which type of income is your 1099-K for, select the button for Personal item sales.  Click Continue.
  • At the screen Let's get the info from your 1099-K, enter the information.  Click Continue.
  • At the screen Personal Item Sales, click Continue.
  • At the screen Your 1099-K summary, notice that the income relates to ‘Personal Items’.  Click Done.
  • At the screen Your income and expenses, scroll down to Investments and Savings (1099-B, 1099-K….).  Click the down arrow.
  • To the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B), select Start/Revisit.
  • At this screen, you will be asked to Review the Personal item sales (1099-K).  Click Review.
  • At the screen Now, enter one sale…., answer questions about the personal item sale.  Click Continue.
  • At the screen, Let us know if any of these situations apply to this sale, sales expenses may be recorded.
  • Select Add another sale as needed.

The entry will be reported:

 

  • on Schedule D of the Federal 1040 tax return, and 
  • on line 7 of the Federal 1040 tax return.

Capital loss for a personal item sale reports $0 capital gain on line 7 of the Federal 1040 tax return.

 

@Bill347