topic Re: Form 1099-K in Get your taxes done using TurboTax

Form 1099-K

Duke91948 — Tue, 04 Feb 2025 02:18:22 GMT

After I did the 1077-k as you stated by clicking no profit, the review said the following error, “Form 1099-K: a link to Schedule C or another source for the amount reported in box 1 must be selected. To associate this amount with an activity on Schedule C, D, E, F, or Form 4835, double click on the field provided. Otherwise heck the box that applies to this income. If the amount was reported in error, there is a box in the reconciliation section below for that purpose.” Now I have no idea what they are saying or what I need to do now. Help please.

Re: Form 1099-K

MindyB — Tue, 04 Feb 2025 03:01:41 GMT

Choose Schedule D. None of the other options are applicable. ‌Make sure when you review your return before filing that the income from eBay is zero.

If you had done tests of the 1099-K prior to the final choice of personal items sold at no gain or loss, check that there is nothing for eBay in the Self- employment or Investments and savings section related to eBay. It might be easier to delete your 1099-K entry, self-employment, and investment entry if they appeared. ‌Then Review to clear all errors, and then re-submit the 1099-K information.

Re: Form 1099-K

Duke91948 — Tue, 04 Feb 2025 03:33:03 GMT

Thank you! That worked. I cleared it and entered it again and did not get any errors. So I don’t need to put anything in another schedule?

Re: Form 1099-K

DawnC — Tue, 04 Feb 2025 03:45:02 GMT

No, if you re-entered entered it without any errors, you can continue preparing your tax return.