@JosephS1
Clearly, you have not read this entire message thread; please do so. Entering the 1099-K does NOT result in Schedule 1 lines 8z / 24z to be filled the way IRS (not me) wants it for personal item sales.
I already posted the comment about the TT help/FAQ (a copy which you also provided) being inconsistent with the actual software. There is no "Income Landing table" to start with. There is a "Wages & Income" overview page.
In the "1099-MISC and Other Common Income" section of that page, there is an entry "Income from 1099-K." In the workflow for that item, there is a question:
"Choose which type of income your 1099-K is for"
where "Personal item sales" can be selected. After the info from 1099-K is entered, on the subsequent "Let's get the info from your 1099-K" page, the following appears:
"Personal Item Sales
We've added your personal item sales. You’ll need to enter additional information for your sale in another section. Learn More"
But even though a non-zero amount was entered for the 1099-K from eBay, the "Your 2022 Income Summary" page shows $0 for "Income from Form 1099-K."
In the process of entering the 1099-K, an item is then automatically created in the "Investment Income" section under "Stocks, Mutual Funds, Bonds, Other." It has an initial balance of $0. When the item is edited, the first dialog asks to "Confirm your financial institution info" which is already prefilled with "eBay" entered from the 1099-K. The next page says "Here's all the sales reported by eBay" and the list is initally empty. Upon clicking Add, there is a choice to enter either one sale at a time or a summary for each sales category. Regardless of which one is chosen, there is no way to to "select Personal Items under What type of investment did you sell" there, as the help you quoted states. So that help is out of sync with the TT reality.
Say you choose the summary and enter the Total Proceeds and Total Cost to each be equal to the amount reported on the 1099-K (so that there is no gain/loss, consistent with the sale of used personal items), and select the Long-Term Holding Period. This results in zero Net Gain/Loss in Category Box F "Long term sales not reported to the IRS." But eBay did report those sales to the IRS on the 1099-K and so you are reporting them as well!
More importantly, all these steps result in a Form 8453 being generated, which TT says has to mailed along with a statement to the IRS even if the return is filed electronically! On top of that, this whole 1099-K reporting process does not result in the Schedule 1 lines 8z or 24z being correctly filled, as the IRS wants them to be (read the IRS guidance referred to earlier in this thread).
So, how are TT 2022 users supposed to correctly report the online sales of used personal items?
