AmyC
Expert Alumni

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:

 

  1. Log into your return
  2. Federal
  3. Click on Income
  4. Scroll to the bottom section, Less Common Income
  5. Select Miscellaneous income, 1099-A, 1099-C, start
  6. Select Other Income
  7. Did you receive other wages? Yes
  8. Continue
  9. Household employee? Continue
  10. Sick or disability pay? Continue
  11. Any other earned income or wages? Yes
  12. Enter source of Other Earned Income
  13. Select Other
  14. Continue
  15. Enter description Sale of purchased items
  16. 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"