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pjtansey1
New Member

how to fix my 2025 turbo tax premium for ebay (1099K) to subtract my shipping costs from net sales

sales were 4714.14 but I paid much of that in shipping and ebay and paypal fees
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3 Replies
KrisD15
Expert Alumni

how to fix my 2025 turbo tax premium for ebay (1099K) to subtract my shipping costs from net sales

Are you entering the 1099-K for the sales as Self-Employment income for Schedule C (this is your business or trade) or as Other Income (these were "garage sale" types of transactions)

Which type of income did you choose for the 1099-K? 

 

Hobby

Personal item sale

Real estate rentals

Self-employment income

Farm income

Farm rental income

Personal property rental income

Other (what?) 

 

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pjtansey1
New Member

how to fix my 2025 turbo tax premium for ebay (1099K) to subtract my shipping costs from net sales

These are personal items sales. 

DianeW777
Employee Tax Expert

how to fix my 2025 turbo tax premium for ebay (1099K) to subtract my shipping costs from net sales

Enter an Investment sale for the personal use items using the instructions below if you actually have a profit/gain.

To enter your sale in TurboTax, follow these steps. 

  1. Open or continue your return.
  2. Navigate to the investment sales section:
    • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
    • TurboTax Desktop: Search for investment sales and then select the Jump to link.
      • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (select this box)
  3. Answer Yes to the question Did you sell any of these investments in 2025?
    • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
    • Click this link for more information. Where do I enter Investment Sales?
    • Select Type as Personal Items
    • If you aren't sure of the date of purchase you can can select 'Something other than a date' to select Various
    • Be sure you know your holding period (long term is over one year, everything else is short term)

If you did sell in different lots and times any sale that resulted in a gain is taxable and cannot be lumped with sales resulting in losses.

 

@pjtansey1 

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