How do I handle consignment income and commissions

I am a consignor and receive a 1099 from the consignment shop. How do I report the income and commissions?

posted

It depends. If you are consigning things that were your personal use items that you sold for less than your purchase prices, you do not need to report these as income.

If you sold items that you purchased specifically for the purpose of reselling for a profit, then you will report the income/commission in the business income/ expense section of TurboTax.

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