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josajoyce
Level 2
Feb 7, 2023 5:22 PM UTC
Question

1099 K from Ebay

Ebay sent 1099 K for 1191.00. Can do 1009 K but it always calculates a loss even though you cannot deduct a loss for sale of personal items???? Try to edit form but it does not allow.

    3 replies

    JohnB5677
    JohnB5677
    Alumni - Intuit
    Feb 7, 2023 5:58 PM UTC

    We'd love to help you complete your tax return but need more information. Can you please clarify your question?

    Where are you posting this information to in TurboTax?

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    josajoyceAuthor
    Level 2
    Feb 7, 2023 6:55 PM UTC

    What I ended up doing is reporting 1099-K income  (1192.00)on Schedule 1 and then deducting cost of goods (732.00). Net income $460.00. Looks good to me and being transparent about the income. I think this works. Turbo Tax kept sending me to a 1099 -B form which would not allow me to uncheck box about reporting to IRS. Very frustrating. 

    AmyC
    AmyC
    Alumni - Intuit
    Feb 7, 2023 7:18 PM UTC

    Personal sale items would go on sch 1, line 8z so you did a great job along with subtracting out the cost of goods. 

    If this is a business, it would go on sch C.

    **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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