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tonyno2
New Member

1099-k Please read below and take any necessary actions.

There is a post exactly about this, but I have a different situation (items not sold at a loss).

 

How can I get past the "Please read below and take any necessary actions" message?

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3 Replies
LeticiaF1
Expert Alumni

1099-k Please read below and take any necessary actions.

First, make sure that you entered your form the correct way.  Form 1099-K is used to report different things like hobby income, self-employment income, and sometimes personal item sales. The way you enter it on your return depends on what type of income you are receiving. If your income is from hobby income or the sale of personal items, your 1099-K will need to be entered directly as a 1099-K. ‌If the 1099-K is from self-employment, you will need to enter that form when you enter your business information. 

 

You should go back to your return and check how you entered your form. ‌If needed, you might want to delete it and re-enter it in the correct area. See the links below for instructions on how to enter the form depending on your situation:

 

How do I enter a 1099-K for personal item sales?

How do I enter a 1099-K for hobby income?

How do I enter a 1099-K for self-employment income?

If this does not clear your error, try clearing your cache (that is, remove these temporary files) because a full or corrupted cache can cause problems in TurboTax.  You can try these steps if you are using the online version:

 

  • Clearing your Cache and Cookies
  • Using a different browser
  • Opening an Incognito Window

Please reach out again if your problem persists.

1099-k Please read below and take any necessary actions.

Schedule D / Form 8949 is an option although not the one shown on the IRS website.

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Enter on Form 8949 Use Box C or F since you don't have a 1099-B

Loss on Personal Items is not deductible so you have to enter an adjustment to cancel the loss,
the adjustment is in Col g. the adjustment code (Col f) is "L"


Gain on Personal Items is a taxable gain.

you can also adjust for expenses of sale.adjustment code is "E".

The proceeds subtotals should add up to your 1099-K

 

@tonyno2 

tonyno2
New Member

1099-k Please read below and take any necessary actions.

Thanks. I deleted/entered a few times and it eventually stuck. This should be looked at.

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