I am inputting 1099-K that I received form Ebay for selling items that are personal and pre-owened, but I sold at a loss. How do I report this loss to avoid overpay?

[MindyB]

Yes, you are correct. You do not have to pay taxes on personal items sold at a loss. You don't need the exact cost basis because personal losses aren't deductible. 

Here is how to report this in TurboTax Online:

• Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
• Choose Add a 1099-K
• The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
• Enter the information from your 1099-K
• After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"