How do I enter this situation in Turbo Tax?
Let's say I got a 1099-K for $10,000 in Gross Proceeds. I sold 250 items on ebay. 220 of those items were sold at a loss and the Gross Proceeds for those 220 items was $9,000. For the other 30 items, I sold each at a small profit and the Gross Proceeds associated with those 30 items was $1,000.
I entered my 1099-K on Turbo Tax and selected that some of the items were sold for no gain or a loss and entered $9,000 as the proceeds associated with no gains/loss.
At this point, when I go to work on my specific entries on the 1099-K in the investment section, do I need to enter 250 separate items or do I need to account for only the 30 items of gain or do I need to account for the 30 items of gain and then create 1 single items representing the loss on the other 220 items? The instructions in Turbo Tax are not clear.
Please advise
