Get your taxes done using TurboTax

If this is from personal items sales then you cannot claim losses. But if it is a business you would report your income and expenses on Schedule C and could claim a loss. 

If this is a Form 1099-K for the sale of personal items:

1. Click "Wages & Income" (under Federal) on the left
2. Scroll down to "Other Common Income" and click "Show more"
3. Click "Start" next to "Form 1099-K"
4. On the "Choose which type of income your 1099-K is for" screen select "Personal Item"
5. On the "Your 1099-K Summary" screen, select Done.
6. On the "Wages & Income" screen
7. Scroll down to "Investments and Savings" and click "Show more"
8. Click "Start or Revisit" for "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)".
9. Click "Review" on "Personal item sales (1099-K)"
10. Enter the information on the "Now, enter one sale…" screen

If it is business then follow these steps to enter income and expenses:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “self-employed” 
3. Click on “Jump to self-employed”

Please see What is the self-employment tax? and  What self-employed expenses can I deduct? for additional information.

If you need more detailed help please see What is TurboTax Live?

Please see How do I import my cryptocurrency transactions into TurboTax? and Cryptocurrency Info Center for additional information.

[Edited 2/15/2023 | 5:00 am PST]

@butt720803