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Entering 1099 K from Ebay for Personal Items sold at a loss in turbotax 2022

I have seen some posts on this but would like to know the steps to enter a 1099 K for personal items sold on Ebay during 2022. I received a 1099 K from Ebay Commerce for $3800 for a total of 6 transactions. All of these items were used cell phones that I owned and sold after using for two years (at a loss from cost on all). I am a casual seller and not a hobby or business. We I looked up the IRS guidance on this it says: 

 

"If you receive a Form 1099-K for a personal item sold at a loss, report the information on Form 1040, Schedule 1, Additional Income and Adjustments to Income with offsetting transactions. For example, if you receive a Form 1099-K for selling your couch online for $700 you will report:

  • Part I – Line 8z – Other Income – Form 1099-K Personal Item Sold at a Loss $700
  • Part II – Line 24z – Other Adjustments - Form 1099-K Personal Item Sold at a Loss $700

The net effect of these two adjustments on adjusted gross income would be $0."

 

No matter how I have entered this into turbotax Deluxe it does not appear this way on my Schedule 1.

 

Any help / thoughts on how to enter this would be greatly appreciated.

 

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1 Reply
AliciaP1
Expert Alumni

Entering 1099 K from Ebay for Personal Items sold at a loss in turbotax 2022

To report the personal item sales correctly into TurboTax Online you can follow these steps:

 

  1. Search for 1099-K and select the Jump to link at the top of the search results
  2. When you get to the Choose which type of income your 1099-K is for screen select Personal item sales and Continue
  3. For box 1a enter the gross amount of your sale
  4. Click Done
  5. Go back to the Wages & Income screen and click Edit for Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto)
  6. Click Review for the 1099-K you entered and here you can enter the expenses and details for the items you sold
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