Hi JamesG1,
Thanks for your quick reply!
I’m using the online version, as I have in past years.
When I entered the 1099-K forms under the 1099-K section, the “?” Help told me that they would show up in the Investments section. But they did not.
I had entered them as “sale of personal items.”
Here’s the interesting part: no matter what dollar amount I entered, and whether or not I check the box stating that there was a loss, there was no change to my "tax due" indicator at the top of the page. They also did not show up in investment section. I even tried entering $25,000, and did not say that it was a loss. No change to my tax due.
However, if I checked the “hobby income” box, it immediately updated the tax due indicator. It also created an entry in the investments section, but not as a 1099-k. It showed up as a 1099-B.
That said, since there was no profit, I entered them in the 1099-K section as sale of personal items. Since it (correctly) did not impact my taxes due, I left it like that and filed my return. ( I deleted my previous entries first).
Something is definitely wrong, perhaps this will be fixed since I’ve provided a description.
Thanks,
Bob1358
