1099K does not include my acquisition cost for the item?

[backberna]

where do I account for this?

[fanfare]

are you selling personal items? you can report this way.

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.

The proceeds subtotals should add up to your 1099-K

[MayaD]

If you are entering income from a 1099-K for self employment income, the form reports the gross amount of the transactions. It doesn't include any adjustments for credits, refunds, discounts, or fees. You’ll have a chance to enter self-employment expenses on schedule C.

To report self employment Income:

1. Open or continue your return and select Search
2. Search for Schedule C and select the Jump to schedule c
3. Answer the questions about your business until you get to the Here's your info screen. Select Add income for this work
   1. If you’re returning to Schedule C, select Review or Edit next to your work and then answer the questions about your business
4. On the Let's enter the income for your work screen, select Other self-employed income and Continue
5. On the Tell us about other self-employed income for your work screen, enter your 1099-K info
6. Select Continue when finished

To enter your business expense:

1. Select Edit next to your business 
2. Then select Start or Edit or Add expenses for this work
3. Select Start next to an expense type that you had
4. Enter your expense description and amount, and answer any other questions we ask
5. If you had more than one expense for a type, select Add another row to include them all
6. If you have additional expenses of other types, repeat steps 3 through 5 to add more

Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...