Business & farm

If you know that each item was sold at a loss and you have the detail to back that up, you are not required to report income you did not receive. In this case, because the items were personal use, you are also not allowed to report a loss that would reduce other taxable income.

Another way to report the sales is shown below after deleting the Form 1099-K.

• If you're using TurboTax Online software and need to delete a form, click here.
• If you're using TurboTax Desktop software and need to delete a form, click here.

I emphasize the need for you to keep your records with your tax files as well as the 1099-K.

Other Miscellaneous Income:

1. Sign into your TurboTax Online account
2. Go to Tax Home (left panel)  Wages and Income  section
3. Scroll to  Less Common Income > Select  Miscellaneous Income, 1099-A, 1099-C
4. Select Other reportable Income > Enter a description (Personal Use Items Sold) and the amount
5. Repeat steps 2-4 with a second entry of 'Cost of Personal Use Items' and enter a negative (-100) for the same amount.