JamesG1
Employee Tax Expert

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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