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agaudio23
Returning Member

hobbyist income entry on turbotax

I have 1099-K forms from eBay and PayPal for Sales made on eBay. I do not do this for a job and could never support myself doing it,  and I have never made money doing this in the past. With the exception of a few items, most were sold at a great loss.  I am not a business or sole propieter. I want to know where I can enter these 1099-K forms as income in this matter. And if possible right off the loss.  I have no desire to start a business or become anything like to declare and possibly deduct some of this. Please advise how i Can do this in Turbotax premier?  Thank you for all you do.  All the best and God bless!

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1 Reply
ColeenD3
Expert Alumni

hobbyist income entry on turbotax

If you want to deduct expenses, you will have to file a Schedule C as a business. Hobby losses are not deductible in 2020.

 

To enter hobby income in TurboTax please follow these steps:

  • Sign in to your TurboTax account
  • Click on Federal Taxes tab
  • Choose Wages and Income
  • Scroll down to Less Common Income and click Start to to right of Miscellaneous Income, 1099-A, 1099-C
  • Click Start to right of Hobby income 

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