In TurboTax Online, report an IRS form 1099-K for Personal item sales by following these steps.
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Click Show more to the right of Other Common Income.
- Click Start / Revisit to the right of Form 1099-K.
- At the screen Did you get a 1099-K? click Yes.
- At the screen How would you like to enter your 1099-K? click Type it in myself. Click Continue.
- At the screen Choose which type of income your 1099-K is for, select the button for Personal item sales. Click Continue.
- At the screen Let’s get the info from your 1099-K, enter the information. Click Continue.
- At the screen Personal Item Sales, you are told that further information will need to be entered. Learn More provides detailed information for the next steps.
- Select All item were sold at a loss or had no gain. Click Continue.
- At the screen Your 1099-K summary, notice that the income relates to ‘Sale of Personal Items’. Click Done.
The entry will be reported:
- on line 8z of Schedule 1 of the Federal 1040 tax return, and
- on line 8 of the Federal 1040 tax return.
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