Deductions & credits
It sounds like you are reporting Personal item sales. In TurboTax Online, to report Personal item sales of $0, follow these directions.
- Down the left side of the screen, click on Tax Home.
- Click on the down arrow to the right of Review.
- Click on the blue band labeled Review.
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Scroll down to Other Common Income click on the dropdown menu.
- Click Start/Revisit to the right of Form 1099-K.
- At the screen Did you get a 1099-K?, select Yes.
- At the screen How would you like to upload your 1099-K? click Type it in myself.
- At the screen Which type of income is your 1099-K for, select the button for Personal item sales. Click Continue.
- At the screen Let's get the info from your 1099-K, enter the information.
- Click Continue.
- At the screen Personal Item Sales, select All items were sold at a loss or had no gain. Click Continue.
The entire amount of the IRS form 1099-K will be reported on Schedule 1 Form 1040 as included in error or for personal items sold at a loss.
