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If you are reporting the sales on Ebay through a self-employment activity on an IRS Schedule C Profit or Loss From Business, the cost of goods sold and selling expenses are recorded within the self-employment activity.
In TurboTax Online Premium, to report expenses under Self-employment income and expenses, follow these directions.
If you are not reporting the sales on Ebay through a self-employment activity, you may be reporting a casual sale on Ebay through the receipt of an IRS form 1099-K.
IRS Publication 17 Your Federal Income Tax, page 77, states:
Sale of personal items
If you sold an item you owned for personal use, such as a car, refrigerator, furniture, stereo, jewelry, or silverware, your gain is taxable as a capital gain. Report it as explained in the Instructions for Schedule D (Form 1040). You cannot deduct a loss.
If you received and IRS form 1099-K from Ebay and report Personal item sales, follow these directions.
The entry will be reported:
Capital loss for a personal item sale reports $0 capital gain on line 7 of the Federal 1040 tax return.
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