I need to include Form 1040 Schedule 1 to get deduction for my sale of concert tickets at a loss. How do I find Schedule 1 ?

This question was answered yesterday by @Bsch4477 .A personal loss is not deductible.

Losses from the sale of personal–use property, such as your home or car, are not deductible.

 

From IRS Publication 544, Sales and Other Dispositions of Assets:

 

Personal-use property.

 

Generally, property held for personal use is a capital asset. Gain from a sale or exchange of that property is a capital gain. Loss from the sale or exchange of that property is not deductible.

 

If you had a reportable gain, you would enter the information under Wages and Income, in the Investments section.

 

 [Edited 03/05/23| 9:13am PST]

 

@h-msquared

Maybe I am using the wrong language when I say "loss".  I want to recover the 1099-K amount reported and the site  https://www.irs.gov/newsroom/form-1099-k-freque[product key removed]ions-general

tells me how to do that via a Schedule 1 submission.  Otherwise I would be paying tax on the same money twice.  But I cannot find a way to include Schedule 1 in TurboTax.

Your question should possibly how to enter schedule 1099-K.  Not all information on form 1099-K is reportable as income or loss.  Here is how to enter a form 1099-K.

 

Form 1099-K is sent to anyone who has more than 200 transactions and more than $20,000 in payments processed for goods and services from all payment card transactions and third-party payment services (like eBay, Etsy, and PayPal).

You need to report all earned income to the IRS. If you are not a business owner or a hobbyist, follow these steps to enter your 1099-K:

 

1. Sign in to TurboTax and open your return
2. Select Search and enter 1099-k
3. Select Jump to 1099-k
4. Select Yes on the Did you get a 1099-K? screen
5. Select Hobby, Personal item sales, Personal Property Rental, or Other, and then select Continue
6. Enter your 1099-K information

If you are using TurboTax Online, check the box under 1a and enter the amount not subject to tax (personal items you sold at a loss, gifts, and reimbursements).

If you are using TurboTax Desktop:

 

• If you selected Hobby income or Personal Property Rental, you are done
• If you selected Personal item sales, you will need to choose if everything was sold at a loss or if some items were sold at a loss (you will then need to enter the gain)
• If you selected Other, you will see a summary screen.

Please let me know if this helps.  You should be able to adjust the 1099-K amounts that are personal.

 

Click HERE for additional information about Form 1099-K

@h-msquared