Deductions & credits

To enter the 1099-K for personal property sold, follow these steps:

1. Select Income & Expenses.
2. Scroll down to Less common income and select show more.
3. Scroll to  Miscellaneous Income, 1099-A, 1099-C, and check start.
4. On the page Let's Work on Any Miscellaneous Income, scroll to " Other reportable income " and click start.
5. On the page Any Other Taxable Income, select yes.
6. On the page Other Taxable Income, enter a description indicating Personal 1099-K and amount.
7. Select continue.
8. Select done on the next page

Repeat the above steps this time; in step 6, add the amount as a negative value.  Repeating steps 6-8 is to reduce the items that were received for personal use.  

Update your NJ return and check the return entries by following these steps:

1. Click Tax Tools from the left-side panel
2. Click Tools
3. Click View Tax Summary
4. Click NJ Tax Summary from the left-side panel

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