- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@Gerbo20 If you sold the items for a profit, then the IRS might wonder if you are buying and selling goods. You can report just the profit as other income. If you lost money, no worries and nothing to report.
If you are reporting it, follow these steps:
- Log into your return
- Federal
- Click on Income
- Scroll to the bottom section, Less Common Income
- Select Miscellaneous income, 1099-A, 1099-C, start
- Select Other Income
- Did you receive other wages? Yes
- Continue
- Household employee? Continue
- Sick or disability pay? Continue
- Any other earned income or wages? Yes
- Enter source of Other Earned Income
- Select Other
- Continue
- Enter description Sale of purchased items
- Enter amount
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 2, 2021
2:38 PM