In TurboTax Desktop Deluxe, I was able to report the $1,528 in ticket sales by:
- reporting a gain on sale of $411 in Schedule D, and
- reporting $180 as an amount reported to you in error in Part I of Schedule 1 Additional Income and Adjustments to Income.
You would want to remove the IRS form 1099-K entry in your software and start over again.
In TurboTax Desktop Deluxe, I entered an IRS form 1099-K as a Personal item sale.
I reported the Box 1a amount as $1,528 and selected This amount in box 1a is too high. I entered $180 as the Enter the amount that shouldn't be included.
Enter Continue and Continue. Then Done.
Cursor down to Investment Income and Stocks, Cryptocurrency, Mutual Funds and select Start/Update to the right.
Review the Personal item sales entry that has been created by the IRS form 1099-K entry.
Enter the sales information. For Proceeds, I entered $1,348 ($1528 less $180). For Total amount paid, I entered $937. Enter Continue.
At the screen Let us know if any, select None of these apply. Enter Continue.
Run Smart Check.
If you see a screen Check This Entry, select No under Is a Digital Asset.
Run Smart Check.
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