topic How to enter 1099-K in Retirement tax questions

How to enter 1099-K

maksym-voronin-work — Tue, 03 Feb 2026 15:24:07 GMT

How to enter 1099-К form

Re: How to enter 1099-K

KrisD15 — Wed, 19 Mar 2025 19:56:15 GMT

It depends what the 1099-K is reporting.

If you sell items online as a business, enter on Schedule C

If you sell personal items online similar to a garage sale enter following these steps:
In TurboTax enter the 1099-K under:
Income
Other Common Income
Income from Form 1099-K START
On the “Did you get a 1099-K?” screen, select “Yes”
On the “Which type of income is your 1099-K for?” screen, select “Personal item sales” CONTINUE
Enter the 1099-K as it was reported and select the box for “This amount in box 1a is too high or includes some personal transactions” in order to enter any personal items such as birthday gifts.
CONTINUE

On the next “Personal Item Sales” screen, make the correct selection.
Choose “I sold some items at a loss or had no gain” if you made a profit on any individual sale, even if only one
Choose “All items were sold at a loss or had no gain” If ALL the items were sold and you did not realize a gain on any single item, (they ALL sold for less than or only for as much as you paid to purchase the item in the first place) you would not need to enter any sales and you would be done reporting Form 1099-K at this point.

If you need to continue-

Enter the amount of the 1099-K that represents the cash you got for selling items at cost or under.
So, if the 1099-K reports $1,000 and the only item you sold at a profit was an item that sold for $50, you would enter 950.
$950.00 on that 1099-K does not need to be addressed.
Also, remember that this is NOT saying you MADE $50, only that someone paid $50. The profit would be less because you need to subtract what you paid to buy it.
CONTINUE

Finish the interview and select done on the “Your 1099-K summary” screen,

YOU ARE NOT DONE if you made the first choice that only SOME items sold at a loss,
that would mean that at least one item sold at a gain, for a profit.
Now you need to report the sale, go to

Income
Investment Income
Stocks, Cryptocurrency, Mutual Funds, Bonds, Other click UPDATE
The next screen should show “Personal items sales (1099-K)”
Click REVIEW to open
The next screen has an input screen for the Personal items you sold at a
profit/gain.
Enter one sale at a time.
Report when purchased, when sold, how much you paid to buy it and how much they paid to buy it from you

The next screen asks for selling fees, but those are USUALLY deducted before they pay you, so would not be included on Form 1099-K
If they were not deducted previously, enter here

Once done, you should see the amount of proceeds you needed to address ($50) and the profit you made from that (those) sales.
The profit is Capital Gain listed on your 1040 line 7

Re: How to enter 1099-K

jwojnilower — Fri, 11 Apr 2025 23:42:01 GMT

I believe there used to be an option to enter a summary for each sales category rather than entering one sale at a time. Is that still an option? If so, where can I find it?

Re: How to enter 1099-K

DawnC — Fri, 11 Apr 2025 23:58:07 GMT

For 1099-Bs, you can enter your sales by summary, but not with a 1099-K. Where you enter a 1099-K depends on what kind of income the 1099-K is reporting. Why did you receive the 1099-K, or what kind of income does it represent?

Where do I enter or import a 1099-B? TurboTax will ask how many sales are on your form and offer the summary method if applicable.

1099-K entries in TurboTax - @jwojnilower

Re: How to enter 1099-K

jwojnilower — Sat, 12 Apr 2025 00:01:49 GMT

Thank you for the quick reply. I received the 1099-K from eBay related to sports trading cards I sold from my personal collection. There were a couple hundred sales so I was hoping to avoid entering them one at a time. Any advice is appreciated.

Re: How to enter 1099-K

DianeW777 — Wed, 16 Apr 2025 15:56:02 GMT

Yes, you can separate them by long and short term and make only two entries (or one if all are short term). You must do the math to get the entries ready. You can choose to use 'something other than a date' and then select 'Various'. You must select the holding period which can be one of the following:

Short term noncovered
Long term noncovered

Holding Periods:

Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

Once you have the totals ready you can use the investment sales instruction below. To enter your sale in TurboTax, follow these steps.

Open or continue your return.
Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
  - Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Answer Yes to the question Did you sell any of these investments in 2024?
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
- Click this link for more information. Where do I enter Investment Sales?

@jwojnilower