Hi, the key here is that the IRS will now have this information and they don't know how much profit or loss you had until you report it. TurboTax will help you thru the entries needed (you'll go thru a flow to enter the information a it appears on the 1099K) included guiding you thru how to report the sale of a personal item. Just be aware that the IRS rule is that if it is personal property that you sell at a loss that you don't get to take the loss but sales at a gain are taxes.
