Get your taxes done using TurboTax

This line is informational only.  It is coming from the amounts that you entered as personal items sold at a loss (not deductible).  There is no need to enter any offset to indicate that you have a loss.  If it's incorrect, and this is not what you received on your 1099-K, you can adjust the figure you entered in the 1099-K input. To change this, navigate to Federal Taxes > Wages & Income > I'll choose what I work on > 1099-MISC and Other Common Income > Income from Form 1099-K > Update.