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If you made a loss on personal items, this loss on personal items isn't deductible and isn't reported on your tax return.
If this is the case, you don't need to report the sales on your tax return. Just keep records of these sales in your tax records along with any proof that it was for the sale of personal items at a loss.
If you sold certain items at a profit, then you have to report these sales as an investment sale, even if you didn't receive a form 1099-K.
In TurboTax Online, you can enter the sale of your investment property by following these steps:
Please also read this TurboTax Help topic for more information.
If you made a loss on personal items, this loss on personal items isn't deductible and isn't reported on your tax return.
If this is the case, you don't need to report the sales on your tax return. Just keep records of these sales in your tax records along with any proof that it was for the sale of personal items at a loss.
If you sold certain items at a profit, then you have to report these sales as an investment sale, even if you didn't receive a form 1099-K.
In TurboTax Online, you can enter the sale of your investment property by following these steps:
Please also read this TurboTax Help topic for more information.
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