DawnC
Expert Alumni

Deductions & credits

If it is for personal items that you sold for no gain - you have two choices:

 

  1. Don't report it at all and save the document with the details of what was sold and what you paid in case you are asked later.   Or 
  2. Enter 2 line items under Miscellaneous Income - Other Reportable Income - 1 with the amount of the 1099-K and 1 offsetting entry (negative 1099-K amount).   The can description can be something like ''personal items sold for less than basis''.    In either case, keep detailed records.   @4k111
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"