DMarkM1
Expert Alumni

Get your taxes done using TurboTax

As @PattiF mentioned, don't enter the forms 1099K only enter the investment transactions.  

 

  1. Go back and delete the forms 1099K from the "Other Common Income" topic.  
  2. Go to the "Investment" section and just to start clean delete the "Ebay" and "PayPal" entries.  
  3. Next add an investment.  
  4. Select the "Other" tile.  
  5. Enter broker as "PayPal 1099K or Ebay 1099K" as applicable.  
  6. Select "Personal Item" from the dropdown and add the description of the item sold and the transaction details
  7. Since you selected personal items, if the transaction is a loss, it will not affect your taxes as a personal loss cannot be taken. TurboTax will notify you of this on the next screen

This will put the income items on your schedule D and zero out any personal losses.

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