Yes, two entries, one positive and one negative.
Follow these steps to enter the income:
- go to the federal income section
- scroll to the bottom
- Miscellaneous Income, 1099-A, 1099-C, Start
- Scroll to the bottom
- Other reportable income, Start
- Other taxable income?
- Select YES
- Description - whatever you want to say, 1099-K for personal loss
- Amount, enter your amount of income
- Continue
Subtract the income
- Miscellaneous Income, 1099-A, 1099-C, Start
- Scroll to the bottom
- Other reportable income, Start
- Other taxable income?
- Select YES
- Description 1099-K expenses
- Amount, enter your negative amount
- continue
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
