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Get your taxes done using TurboTax
There would be no loss if Schedule 1 shows the income in and the same amount of income out, but I feel that entering it as "personal sales" is the better way of reporting.
The outcome is the same, no gain no loss, but I think it is cleaner to show the income on Form 8949.
Schedule 1 "Other Income" is pretty vague. Form 8949 makes it clear that the income (or no income) was for items purchased and then sold.
@stantonporsche
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‎February 21, 2023
5:45 AM