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tomb0818
New Member

Ive sold some camera equipment from my late brother in law. Since I inherited them and never purchased them , do i have to declare on my taxes?

I have cameras I sold on ebay, they sold for much less then I originally paid, since there was no PROFIT, do I have to declare the amount even though Ebay sent me a 1099?
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MarilynG1
Expert Alumni

Ive sold some camera equipment from my late brother in law. Since I inherited them and never purchased them , do i have to declare on my taxes?

If you received a 1099-K from Ebay, type '1099-K' in the Search area, then 'Jump to 1099-K'.

 

Choose 'personal items sales' and enter the amount from your 1099-K. 

 

Choose 'all items were sold at a loss or had no gain' on the next page.

 

That's all you need to do.  You have reported, but have no taxable income.

 

Here's more info on Form 1099-K for Personal Sales. 

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