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Deductions & credits
You did not receive an IRS form 1099-K and you are reporting the sale of personal items.
These items are reported on Schedule D and Schedule 8949. You will have to upgrade to TurboTax Premium version to report these sales.
In TurboTax Online Premium, you would report the items individually as follows;
- Under Wages & Income, scroll down to Investments and Savings.
- Click the down arrow and click Start/Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Other.
- At the screen Let's finish pulling in your investment income, click on Add investments.
- At the screen Let's import your tax info, select Enter a different way.
- At the screen OK, let's start with one investment type, select Other. Click Continue.
- At the screen Tell us more about this sale, enter 'Sale of personal vehicle for loss'. Click Continue.
- At the screen Now, enter one sale...., enter the sale information.
- Select Personal items under What type of investment did you sell.
- Report the sales fees at the screen Let us know if any of these situations apply to this sale, select I paid sales expenses....
Be aware that the loss on the sale of personal items is not deductible against other income.
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‎February 11, 2024
6:58 AM