When you enter your 1099K you are asked if the items were sold at a loss or profit. If they were sold at a loss, or no gain, entering fees will not make a difference as you cannot claim a loss on the sale of personal items.
If they were sold as a gain, you can add the shipping costs and fees to your cost basis or as selling expenses. To do this, instead of entering it in the 1099-K section, you can enter it in the investment section.
You would enter the sale of the your items by clicking the following:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other
- Continue through and select personal collection for the type of investment
- Answer how you obtained it
- You will need to enter the selling price, dates and the cost basis
Note, your navigation sequence may be slightly different. You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.
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