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Get your taxes done using TurboTax
Since the IRS has no idea of the source of that income you should report it and then back it out like this:
You should report the 1099K income as Less Common Incom. Other Taxable Incomeand then report the value of the personal items as a negative reversing entry in Other Taxable Income: You can specify “adjustment for 1099 K, personal items not sold at a profit “.
January 21, 2023
9:34 AM