Since you received a 1099-Misc, you must report it on your return. However you cannot report a loss on the sale of a personal item. You can however zero the income out since you didn't gain anything.
First, you will enter the income in the "Other Common Income" topic. Answer the questions indicating this was not a job or an effort to earn money.
Next, scroll down to "Less Common Income" and "Start/Revisit" Miscellaneous Income topic and the "Other Reportable Income" topic.
There you will enter "Boat Sale Costs" and enter your purchase price as a "Negative" number only up to the amount on the 1099-Misc.
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