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Deductions & credits
I appreciate this info. Very informative, but I have some additional questions. I am currently downsizing and have 30+ years of stuff to sell. Last year I sold about 100 items, some made a profit but the remainder were at a loss. I have a very detailed spreadsheet. The 1099k reports the gross amount and includes sale amount, buyers shipping cost and eBay fees. The latter two are not income to me. In TurboTax I entered selling personal items and some were sold at a loss. I entered info on 1099k and continued. It did not request any other info, but when I ran the check it reported an error but did not lead me anywhere. Maybe still an issue with the software. There should be a place where I can enter shipping cost, fees and other expenses. Sorry for the lengthy message, but any help is appreciated.