I made $6080 on selling gear and items I didn't need in 2022 on Reverb and got a 1099-k as a result. I only had 10 transitions total. Do I need to report this income?

[Vanessa A]

Yes, you will need to report the income. 

You would enter the sale in two parts.  First by entering the 1099K, then you will switch over to investments and fill out the information on the sale.

You will do this by selecting the following:

• Federal 
• Income
• Show More next to Other Common Income
• Start next to Income from Form 1099-K
• Enter your 1099-K

Next you will select

• Federal
• Income
• Show More next to Investment Income
• Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
• Select Other
• Continue through and select Other again for the type of investment
• Answer how you obtained the items you sold
• You will need to enter the selling price, dates and the cost basis of the items