selling items

bigio1985 — Fri, 11 Apr 2025 04:47:22 GMT

I sold 2 items. I received both of them as gifts and later sold them. How and where do I report them on TurboTax Online? Thanks.

Re: selling items

JohnB5677 — Fri, 11 Apr 2025 11:37:31 GMT

You would report them as a sale of an asset, like a stock.

In TurboTax Online, you can enter the sale of personal items by following these steps:

Open your tax return
Click on Federal in the left-hand column,
Then on Wages & Income
choose Investments and Savings and click on the down arrow on the right
Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Did you sell any investments?
1. yes
Did you receive a form 1099-B or brokerage statement?
1. No
Select Other (other investment purpose) from the list of investments.
Follow the TurboTax interview to enter your information.
1. If you incur sale expenses, you can subtract them from the proceeds.