sevaru
New Member

Deductions & credits

Hi, so I followed your steps for option 1 TurboTax Premier for 10 transactions that I had listed on my 1099-K from Paypal which were payments received from ebay sales of personal items. Your instructions seemed to be only for users that had no gains to report (steps 8, 9). I did have some capital gains on 4 of the 10 items so I put in the actual proceeds listed on the 1099-K, my actual cost basis (which was less), and for step 9 I put my ebay value fees, sales tax, and shipping expenses. I wanted to make sure that my deviations for steps 8 & 9 are still ok for me to report this 1099-K correctly? I ended up having $56 of long-term capital gains to pay tax on which is fine.  

@KathrynG3