How do i report sell of jewelry

[JulieS]

It depends on whether you are in the business of selling jewelry, or you just sold some of your own jewelry. 

If you are in the business of selling jewelry, please click here for more information about reporting your income and expenses in TurboTax. 

If you just sold some of your own jewelry, and you received a 1099 showing the income, please click here for how to report it. 

If you sold some of your own jewelry, and you did not get a 1099 showing the income, you will need to complete Schedule D.

1. Select Search and enter 1099-B.
2. Select Jump to 1099-B.
3. Select + Add investments.
4. Click Continue.
5. Scroll to the bottom and select Enter a different way.
6. On the OK, let's start with one investment type, enter the transaction information.
7. Select Other (land, second homes, personal items), click Continue.
8. Enter a description, click Continue.
9. Select Personal items from the first drop down. 
10. Fill in the rest of the screen with your sale information, click Continue.
11. Select any adjustments that apply such as fees or selling expenses, click Continue. 
12. Select + Add Investments to enter additional transactions or select Done if you are finished

[Mike9241]

if you're not in the business of selling jewelry, then it's a sale of personal property. loss is not deductible while the gain is taxable at capital gain rates if owned for more than 1 year or it was inherited,

[user08181992]

you state that a capital loss on jewelry is not deductible if it is a personal item or inherited.  Can you explain where the IRS states this?  I read somewhere if it is inherited you could deduct a capital loss.  thank you