How am I supposed to enter a negative item adjustment (COGS) for the items?
From Section 5B:
Enter the applicable description and amount and Continue
- First, enter Form 1099-K as received. It is essential that the full amount be entered.
- For a description, include Form 1099-K and Personal Property Sales
- Next, enter an adjustment to reflect the cost of these items as an offsetting, negative amount up to the amount of the income.
