Get your taxes done using TurboTax
No, that is not necessary for personal items sold at a loss. You can enter the information from the 1099-K once.
If you had done tests of the 1099-K prior to the final choice of personal items sold at no gain or loss, check that there is nothing for eBay in the Self- employment or Investments and savings section related to it. It might be easier to delete your 1099-K entry, self-employment, and investment entry if they appeared. Then Review to clear all errors, and then re-submit the 1099-K information.
Here is how you should report this in TurboTax Online:
- Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
- Choose Add a 1099-K
- The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
- Enter the information from your 1099-K
- After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"
