If you enter Form 10-99-K under
Wages & Income
Other Common Income
Form 1099-K
Select "Personal items sales" on the "Which type of income is your 1099-K for? screen
Enter the 1099-K
Select "All items were sold at a loss or had no gain" on the "Personal Items Sales" screen
Continue and Done and that's it.
If you select "I sold some items at a loss or no gain" that give you the drop-down box to enter how much on the 1099-K needn't be reported.
You enter the amount that should be subtracted OFF the 1099-K and deal with whatever is left.
It means that you sold at least one thing for a profit.
If it reports 1,000 and people paid you 900 for stuff that cost you more than that to purchase (so you sold at a loss or no gain) enter 900 in this box.
That would mean that someone paid you 100 for an item that you made a profit on.
This is what you report for the capital gain,
sold (proceeds) for 100, purchased for XX profit 100 - XX.
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