How to enter deduction for PayPal personal property sold at a loss?

MLMET · ‎February 13, 2023

I entered the value on on Form 1099-K line 2B, but this is flagged in red and my taxes are unchanged.

AliciaP1 · ‎February 13, 2023

To report the personal item sales you can follow these steps:

Search for 1099-K and select the Jump to link at the top of the search results
When you get to the Choose which type of income your 1099-K is for screen select Personal item sales and Continue
Enter the gross amount of your sale
Click Done
Go back to the Wages & Income screen and click Edit for Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto)
Click Review for the 1099-K you entered and here you can enter the expenses and details for the items you sold

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

AliciaP1 · ‎February 13, 2023

To report the personal item sales you can follow these steps:

Search for 1099-K and select the Jump to link at the top of the search results
When you get to the Choose which type of income your 1099-K is for screen select Personal item sales and Continue
Enter the gross amount of your sale
Click Done
Go back to the Wages & Income screen and click Edit for Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto)
Click Review for the 1099-K you entered and here you can enter the expenses and details for the items you sold

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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