As the amount is less than $600, you will not receive a form 1099-NEC or 1099-MISC from the principal, but you still have to report this income on your tax return.
If this a "one time thing" with no intention of making a profit, then this amount can be reported as Other reportable income.
See this IRS document.
In TurboTax Online, open your return and follow these steps:
- Click on Wages and Income
- Navigate to the list of income categories
- Locate the Less Common Income section and click on the arrow on the right
- Click Start next to Miscellaneous Income at the bottom
- On the next page, click Start next to Other Reportable Income.
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