JamesG1
Expert Alumni

Deductions & credits

Enter an IRS form 1099-K and select 'hobby income' and the income is immediately posted to line 8j of the Schedule 1 Additional Income and Adjustments to Income.

 

Enter an IRS form 1099-K and select 'personal item sales' and the income is not posted until the entry is posted to the IRS form 1099-B under Investment and Savings and Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.

 

Enter an IRS form 1099-K and select 'personal item sales' and 'All items were sold at a loss or had no gain' and the notation is made at the top of Schedule 1 Additional Income and Adjustments to Income as 'enter the amount reported to you on Forms 1099-K that was included in error or for personal items sold at a loss'.

 

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