KrisD15
Expert Alumni

Get your taxes done using TurboTax

When you enter the 1099-K, and select "Personal Item sales" the TurboTax program will link it to Schedule D. 

 

After entering the 1099-K and selecting "All items were sold at a loss or had no gain" 

finish the "Other Common Income" interview. 

 

NEXT

Go to Income

Investment Income

Stocks, Mutual Funds, Other

Start or update

The 1099-K you entered should be listed there, click Edit for that 1099-K

Continue through the screen "Confirm your financial info"

Click Edit again for that 1099-K which should be listed

Choose "Summary" if applicable

Enter the amount reported on the 1099-K as BOTH Total Proceeds and Total cost basis 

Select Long term in the drop-down if all items were held for more than one year

(if some items were held for one year or less, you will need to split the entries, although since there was no gain, and loss is not allowed, it would make no difference)

Click Continue 

 

This should eliminate the error. 

 

 

 

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