I got 1099-K of 20,000 of sales, multiple items about 200. I took a loss on all 200 items.
Where on Turbotax Deluxe do you enter these details? there is a box to enter amount for 1099-K but there is not area to input the details such as description item, date purchased, date sold, cost basis
I believe turbotax premier and higher allows for this but nowhere is there a place in deluxe version.
I was told that you can go to less common income section, miscellaneous income
input description: 1099-K personal item sales, amount of : 20,000
then add another income item: 1099-K personal item sales, amount of : -20,000
total miscellaneous income: 0
hence no tax is generated. however, i believe this might create an audit because there is no information on the items you sold.
there is one area when researching this on internet: information needs to be generated on form 8949
only way I can do this on deluxe is through the stocks, bonds section
last question: do I need to list out all 200 items I sold?
