Hello,
I have a question about reporting my 1099-k from ebay in turbotax. The only selling I did on ebay that I did was personal items from around the house. After fees, shipping, etc. I probably broke even on the year or had a small loss.
Does this have to be reported in Turbotax? And how can it be entered so that the whole amount on the 1099-k shows up as income on my tax return?
This is from clicking "learn more" on the 1099 K section in turbbotax:
"Form 1099-K is used by the IRS to track payments that you received from credit cards, debit cards, or electronic payment services (Square, PayPal, ePay, etc.).
For 2023 the IRS does not require you to report these payments separately. TurboTax will not give you a separate field for the amounts reported on your 1099-K(s), so be sure that you visit the other income topics to report any income that you received via credit cards, debit cards, or electronic payments in 2023."
It says that the IRS does not require us to report these payments so can I just no add this 1099-k into turbotax?
What a pain this is, it makes me never want to sell on ebay again.
