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Get your taxes done using TurboTax
have a 1099K from Paypal where i sold or bought parts etc for my personal use. i do not have a business, i am retired. amount was $2509.69 and 32 transactions over the year (2020). can i just enter as other income since it isn't a business? i know i will owe the fed tax but it is confusing as it keeps asking about a business which i do not have. also how will this roll over to my Illinois state taxes. i called them and they said when i apply it to Federal it will generate to them. i'm confused. help
March 7, 2021
10:33 AM