JamesG1
Expert Alumni

Deductions & credits

What version of TurboTax are you using?  Are you using the Online version or the Desktop version?  Reporting of IRS form 1099-B and IRS Schedule D requires Premium version.

 

The posting of IRS form 1099-K for personal item sales is a two-step process.  

 

  • First, you post the IRS form 1099-K amount of box 1a.  
  • Second, you post the IRS form 1099-B Proceeds From Broker and Barter Exchange Transactions to report the sales proceeds and the cost of sales.

Make sure that the amount reported on the IRS form 1099-K box 1a equals the Proceeds reported for the multiple entries of IRS form 1099-B.

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