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Get your taxes done using TurboTax
Well... you can use the proper way then explain to the IRS later when they will send a letter OR mail in the return with an explanation that the data input operator ignored then explain it to the IRS later when the letter comes OR just put it on the Sch C and expense the same amount for a zero result and not have to deal with a letter at all.
Sadly the 1099-K (which you may not get) was written for businesses and not for the sale of personal property at a loss or at least no gain. So of the 3 options to handle this the Sch C is the easiest and I have never had any client get a letter for employing that form.
‎November 21, 2021
10:26 AM