It depends on what the eBay income is for. Below are various scenarios and my advice would be to delete the 1099-K and enter the income directly in the income section it belongs to, which may be more than one type of income.
Business Income: You must upgrade to TurboTax Online Self Employed.
The business income must be entered under the Business section of your tax return. Once you are on the Business section add the business portion of the income from your 1099-K in your self employment activity.
Personal Items Sold: A loss is not allowed, but a gain is taxable (also see the note below). If all of these items were sold at a loss then you need only one entry.
- Search (upper right) > type schedule d > use the Jump to... link select 'Review' or Add another sale> follow the prompts to complete entry
- You can select Various as the date acquired but must select a date in 2022 for the date of sale. Enter the same sales price and cost to zero it out.
- If you do have any personal item sales at a gain in separate transactions then you will follow the steps entering a second transaction/sale to show your gain
NOTE: One personal item or a group of personal items sold in one transaction at a gain requires the gain to be taxed.
One personal item or a group of personal items in one transaction sold at a loss, the loss is suspended and not allowed to reduce or offset other income, even the gain on personal items sold in a different transaction.
It may be a good idea to first clear your cache and cookies. It handles many issues that seem nonsensical on a regular basis.
- Close your TurboTax return first.
Watch to be sure you are selecting 'all time' as example. Do not use selections like 'last hour' for those browsers that give you options.
Please update here if you need additional assistance and one of our tax experts will help.
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