In TurboTax, how do I enter Personal Items Sold at a Loss to appear at the top of Schedule 1?

[jcakes09]

Relevant info:

- not a business activity

- Didn't receive a 1099-K, but gross proceeds from sales were over $600

- I also sold a few Personal Items at a Gain, which I have already input under the investment income section (and have confirmed they show up in Form 8949 and Schedule D).

Initially, I was able to get Personal Items Sold at a Loss to show up on Schedule 1, Line 8z, but there seemed to be no way to get the offsetting entry to show up on Line 24z. Come to find out, it seems like the IRS guidelines may have changed from past years; this page, "What to do with form 1099-K," says you can either report Personal Items Sold at a Loss at the top of Schedule 1, OR on Form 8949, carrying to Schedule D. The easier route seems like it would be to put it at the top of Schedule 1 -- as I understand it, a single entry of gross proceeds (and no need to zero it out elsewhere on the form). So my question, assuming this is correct, is: How do I do that in TurboTax? Again, did not receive a 1099-K. Thank you in advance!

[ThomasM125]

Since your income was not reported on a tax form, you don't need to enter it if you had a loss on sale of personal items. The line number you refer to on the top of Schedule 1 is just for income reported on a Form 1099-K

[jcakes09]

@ThomasM125 Hi Thomas! Thank you for your prompt, succinct answer. Is this true even though Personal items sold at a Loss gross proceeds were over $600? Thanks again!

[JamesG1]

@ThomasM125 is correct.  The statement at the top of Schedule 1 specifically refers to proceeds reported on an IRS form 1099-K.

You have reported personal items sold at a gain on IRS form 8949 and Schedule D.  You may report the personal items sold at a loss on IRS form 8949 and Schedule D but the loss cannot cancel out any gain on the sale of another item.  See TurboTax Help here.

Or you may choose not to report the personal item loss which would report $0 gain or loss.

@jcakes09