You will want to make sure that you report all income tax documents received for each tax year. All tax documents are reported to the Government.
How to enter 1099-K? Please follow these steps using your TurboTax Online account.
- Start from Tax Home page
- Click on Take me to my return
- On the top right, click on Search, then type in 1099k
- A Jump to 1099k will appear on the list, click on it and you will be directed to the page
Besure to enter your 1098s exactly as they are reported to you, answer the questions from each interview page.
If you have any expenses relating to selling of your items (ad fees, shipping & postage, etc.), you can deduct the expenses as you're going through the questions.