Deductions & credits
I prepared the entry in TurboTax Desktop Home and Business.
I entered the 1099-K as a Personal item sale.
Under Investment Income I selected 1099-B or broker statements.
At the screen Here’s all the investment accounts, I selected Edit to the right of the Paypal entry created by the 1099-K.
At the screen Here’s all the sales reported by Paypal, I clicked Add and entered one sale at a time.
At the screen Was this a sale of employee stock, I selected No.
At the screen Select any less common adjustments that apply, I selected Any loss from this sale is not deductible and This is a personal use property.
Here is the IRS form 8949.
Here is the Schedule D Capital Gains and Losses.
