StubHub Tickets Income

[trocky4]

I received a 1099-K from Stubhub for some tickets that I sold.  We have season tickets for an NFL team and we sell some of them to cover the cost.  We sold 6 games for a total of $5,486.40.  I am trying to enter this into TurboTax, but can't seem to enter it in a way that is acceptable.  I select income from 1099-K, then sale of personal items and i enter the full sales proceeds as noted above.    It seems to accept it, but later when it runs a smart check it pulls up a new form (1099-B Worksheet) asking for additional information.  It tells me the sales proceeds on this worksheet do not match the payment amount from the 1099-K.   I have tried a few different ways but i can't get it past the smart check.  Any help would be great.  

Regards,

Tom

[JamesG1]

The posting of IRS form 1099-K for personal item sales is a two-step process.  

• First, you post the IRS form 1099-K amount of box 1a.  
• Second, you post the IRS form 1099-B Proceeds  From Broker and Barter Exchange Transactions to report the sales proceeds and the cost of sales.

In TurboTax Online, follow these steps:

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Scroll down to Other Common Income click on the dropdown menu.
• Click Start/Revisit to the right of Form 1099-K.
• At the screen Did you get a 1099-K?, select Yes.
• At the screen How would you like to upload your 1099-K? click Type it in myself. 
• At the screen Which type of income is your 1099-K for, select the button for Personal item sales.  Click Continue.
• At the screen Let's get the info from your 1099-K, enter the information but round off the income to the nearest dollar. 
• Click Continue.
• At the screen Personal Item Sales, you are told that further information will need to be entered.  Learn More provides detailed information for the next steps.  Click Continue.
• At the screen Your 1099-K summary, notice that the income relates to ‘Personal Items’.  Click Done.
• At the screen Your income and expenses, scroll down to Investments and Savings (1099-B, 1099-K….).  Click the down arrow.
• To the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B), select Start/Revisit.
•  
• At this screen, you will be asked to Review the Personal item sales (1099-K).  Click Review.
• At the screen Now, enter one sale…., answer questions about the personal item sale.  Click Continue.
• At the screen, Let us know if any of these situations apply to this sale, sales expenses may be recorded.

The entry will be reported:

• on Schedule D of the Federal 1040 tax return, and 
• on line 7 of the Federal 1040 tax return.

Capital loss for a personal item sale reports $0 capital gain on line 7 of the Federal 1040 tax return.