- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
We get your taxes done right regardless of them. You should have received a 1099 MISC for the sale, not the NEC. Since they won't be correcting let's work with what you have. Your income is not taxable for a loss on sale of personal item. Follow these steps:
Enter the NEC
- Go ahead and enter the 1099-NEC in the income section.
- As you go through, the program asks Does one of these uncommon situations apply?
- Select this is not money earned as employee or self-employed individual, continue
Remove the income
- go to the federal income section
- scroll to the bottom
- Miscellaneous Income, 1099-A, 1099-C, Start
- Scroll to the bottom
- Other reportable income, Start
- Other taxable income?
- Select YES
- Description -NEC received for sale of personal RV sold at a loss
- Amount, enter 1099NEC as a negative amount, -49,000
- Continue
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 7, 2025
2:59 PM