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CompleteCheck flagging a 1099-K from personal sale, sold at loss. First question says "! Needs info". Not sure what to do. I have entered everything accurately. Argh.

 
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JamesG1
Employee Tax Expert

CompleteCheck flagging a 1099-K from personal sale, sold at loss. First question says "! Needs info". Not sure what to do. I have entered everything accurately. Argh.

Report the income as Other income and This amount is too high or includes some personal transactions.

 

In TurboTax Online, to report Other income, follow these directions.

  

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click the down arrow to the right of Other Common Income.
  • Click to the right of Form 1099-K.
  • At the screen Did you get a 1099-K?, select Yes.
  • At the screen How would you like to upload your 1099-K? click Type it in myself
  • At the screen Which type of income is your 1099-K for, select the button for Personal item sales.  Click Continue.
  • At the screen Let's get the info from your 1099-K, enter the information. 
  • Select This amount in box 1a is too high or includes some personal transactions.
  • Enter the dollar amount from box 1a.
  • Click Continue.
  • Click Done.

The income is reported at the top of Schedule 1 Additional Income and Adjustments to Income.

 

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