JamesG1
Expert Alumni

Get your taxes done using TurboTax

@ThomasM125 is correct.  The statement at the top of Schedule 1 specifically refers to proceeds reported on an IRS form 1099-K.

 

You have reported personal items sold at a gain on IRS form 8949 and Schedule D.  You may report the personal items sold at a loss on IRS form 8949 and Schedule D but the loss cannot cancel out any gain on the sale of another item.  See TurboTax Help here.

 

Or you may choose not to report the personal item loss which would report $0 gain or loss.

 

@jcakes09 

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