Anonymous
Not applicable

Get your taxes done using TurboTax

@DianeW777 @I read that page and I don’t see anything there for individuals not selling for profit (personal sales). Starting this year the threshold is only $600. So if I sell a few large furniture items when I’m moving houses I’m going to get a 1099k (Even Facebook marketplace is now asking for tax information to send 1099-k). The question now becomes how to report this 1099k and the corresponding expense to get a net income of 0 without using schedule C. It sounds like you’re recommending to use of the investment sale option. I haven’t done this yet but I'm guessing that there’s an option to enter the cost basis which should match exactly the amount reported on the 1099k because we cannot have a loss reported on personal property sale (assuming there’s no profit in this sale).