Yes. You can report online sales on Form 1040 Schedule 1 if you are not running a business.
Your options are hobby income or occasional sales.
Hobby income means you make regular sales but are not selling to make a profit. For example, you may collect baseball cards and are always looking to upgrade your collection, so you regularly buy and sell cards.
Occasional sales mean you aren’t making regular sales. For example, you may sell a bunch of items to clean out your home each spring.
Here’s how to enter your Form 1099-K on Schedule 1:
- Type 1099-k in Search (magnifying glass) in the upper right
- Tap Jump to 1099-k
- On “Did you get a 1099-K?" say Yes
- On “Choose which type of income your 1099-K is for," select Personal item sales or Hobby Income
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