- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Generally, you do not need to report personal items you sell at a loss. However, since you did receive the 1099-K and the IRS knows about it, you may want to enter an offsetting transaction set to report the transaction. See this link for instructions. Make sure your income (1099-K amount) and the basis amount (purchase price) are the same - you can't take the loss as these are personal items. @fwadams1
**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 19, 2022
11:30 AM