Update: Seems the IRS page listed above is not reflecting the update Schedule 1 (Form 1040) 2024 language.
If you look at Schedule 1 (Form 1040) at the top you see new language, as posted below.
"For 2024, enter the amount reported to you on Form(s) 1099-K that was included in error or for personal items sold at a loss
Note: The remaining amounts reported to you on Forms) 1099-K should be reported elsewhere on your return depending on the nature of the transaction. See www.irs.gov/1099k."
I would follow MindyB's explanation above. Thank you Mindy !
When you follow Mindy's method, your amount from your eBay 1099-K (example $6,420.56) is automatically populated at the top like this; For 2024, enter the amount reported to you on Form(s) 1099-K that was included in error or for personal items sold at a loss ...... 6,420.
