1099Nec fair market value

[Angelt391]

I received a 1099 nec for the fair market value of items I received in exchange for reviewing the products. I then sold many items at a loss or gave them away since they took up too much space in my house. Can I deduct those items as a loss and if so where would I count that loss in turbo tax? 

[Mike9241 · Accepted solution]

the 1099 is taxable compensation. the items you received are personal property. losses on the sale of personal property are not deductible while gains are taxable. you can't deduct those items you gave away unless they were donated to a charity and you itemize your deductions.