Where to enter refunds included from personal item sales on 1a 1099k from ebay?
Output from Turbo Tax below, but where is #3 "Adjust Your Income" done?
To report refunds from personal item sales included on your Form 1099-K from eBay, follow these steps in TurboTax:
- Identify the Refunds: Determine the total amount of refunds you issued for personal item sales.
- Enter Sales Information: When entering your 1099-K income, you will report the gross sales amount. Refunds are not directly entered on the 1099-K section.
- Adjust Your Income: You can adjust your total income by subtracting the refunds from your gross sales when calculating your taxable income.
Bottom line, neither one of these seems correct...
In turbo tax "You can adjust the amount according to your records for this line of work or income". However If Box 1A is "adjusted" or reduced it will no longer match form 1099k Box 1a.
In turbo tax, the next box says "
This amount in box 1a is too high or includes some personal transactions
Enter the amount that shouldn't be included'
