topic 1099-K from eBay for items sold at a loss in Get your taxes done using TurboTax

1099-K from eBay for items sold at a loss

Lexington1 — Fri, 31 Jan 2025 21:55:20 GMT

I have been cleaning items out of my house (not a hobby, not a business) and sold some items last year on eBay that resulted in me getting a 1099-K from them. I have been reading that I likely will not have to pay taxes on the income because it was sold at a loss. How do I enter that information on Turbo-tax? thank you

Re: 1099-K from eBay for items sold at a loss

MindyB — Sat, 01 Feb 2025 18:55:28 GMT

Yes, you are correct. You do not have to pay taxes on personal items sold at a loss. You don't need the exact cost basis because personal losses aren't deductible.

Here is how to report this in TurboTax Online:

Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
Choose Add a 1099-K
The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
Enter the information from your 1099-K
After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"

Re: 1099-K from eBay for items sold at a loss

Lexington1 — Tue, 04 Feb 2025 00:15:11 GMT

Thank you for that. I appreciate the help.