I sold items from dad's estate on ebay and didn't receive a 1099-k but it was ~$20k in earnings.

[gcestaro]

I think I'm required to enter the income and offset it because the value is typically = sale price. How do I enter this in TurboTax? I can only enter a 1099-k, so where do I record this income without a 1099-K?

[CesarJ]

When you sold items from your dad's estate on eBay without receiving a 1099-K, you still need to report the income if there was a gain. TurboTax doesn't require a 1099-K to enter this income.

To enter your eBay estate sale income as Other Income in TurboTax Online without a 1099-K, follow these steps:

1. Go to the Wages & Income section.
2. Scroll down and select Add more income.
3. Find and select Less Common Income.
4. Choose Other Reportable Income and select Start.
5. Enter the total sale amount as income.
6. In the description, you can note it as "Income from estate sale on eBay."

This reports the income without a 1099-K. If you have a basis equal or less to the sale amount, the gain would be zero, so no taxable gain is reported here.

[NCperson]

@gcestaro  @CesarJ - - please review the accuracy of the response. 

Since these are estate assets, the cost basis would be market value as of the date of death.  What Dad originally paid for the items is irrelevant.   

If the assets were sold shortly thereafter, there would be no gain to report as the cost basis and the market value would be the same.  

Whether the estate or the beneficiary sold the items, there is no reporting required as these were personal items sold at no gain. 

Why would this be reported on a tax return at all?