DianeW777
Expert Alumni

Deductions & credits

This experience may be cleared  up if we make one adjustment.  Change your answer to 'I sold some items at a loss or had not gain' then enter the amount from your 1099-K (to reiterate - assuming it was one sale at a loss).

 

This should allow you to proceed without error.  You can check under Investment and Savings, select to Review or Start beside Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) to review this sale which should be labeled 'Personal Item Sales - 1099-K'  

 

Next check your return to see if the error has been resolved.

 

NOTE: One personal item or a group of personal items sold in one transaction at a gain requires the gain to be taxed. 

One personal item or a group of personal items in one transaction sold at a loss, the loss is suspended and not allowed to reduce or offset other income, even the gain on personal items sold in a different transaction.

@xrecar 

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