Yes. If you have a gain from sales transacted on eBay then you must use TurboTax Premier Online to enter those transactions. Keep in mind that any losses from the sale of personal items is not a required entry because personal losses are not allowed to be used to offset other taxable income.
Enter sales when they occurred, for example if you sold several items to one individual on one date, then gather your cost basis or fair market value on the date of sale (use whichever is less) and the sales price. Likewise if you sold only one item. The key is that only gains should be reported if this was sales conducted for personal use.
TurboTax will automatically upgrade your product if necessary. You can choose to use TurboTax CD/Download Basic for this activity as well if you choose.
Report your sale as an investment sale. Be sure to answer all the questions accurately. Keep all of your records pertaining to the sales with your tax return. These are considered investment sales for tax purposes and reported on Schedule D.
You can use the following link for instructions on how to enter into your tax return.
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