7 of 8 tickets sold for a gain and are being reported on Schedule D and form 8949. I identified the one loss transaction during the TT Q&A and it reported the income on Schedule1 line 8z. I understand the offsetting expense should show on Schedule1 line 24z. How do I get TT to display it?
Are you reporting the IRS form 1099-K income as personal item sales?
If so, capital loss for a personal item sale reports $0 capital gain on the tax return.
The amount included in error or for personal items sold at a loss is reported at the top of Schedule 1 form 1040.
The expenses of the sale or the cost basis of the sale are not reported on the 2024 tax return.
Are you reporting the IRS form 1099-K income as personal item sales?
If so, capital loss for a personal item sale reports $0 capital gain on the tax return.
The amount included in error or for personal items sold at a loss is reported at the top of Schedule 1 form 1040.
The expenses of the sale or the cost basis of the sale are not reported on the 2024 tax return.