You'll need to sign in or create an account to connect with an expert.
NVM, I figured out that they the instructions are incorrect. I wasn't being taxed on the amount on my 1099-K.
For 'personal item sales', the income is reported under Investments and Savings.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
knownoise
Returning Member
mpiseter
New Member
obeteta
New Member
frank790628
Returning Member
Fuzzy Red Baron
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.