Keeps telling me there is an error, then says this: A link to Schedule C or another source for the amount reported in box 1 must be selected. where do I get this??

[yellow1-ix-netco]

this is referring to a 1099-K from Ebay. Sale of personal items for a loss.

[JamesG1 · Accepted solution]

IRS form 1099-K reporting Personal item sales should not link to Schedule C.  You may want to delete that entry and start over.

You are able to remove the IRS form 1099-K by:

• Down the left side of the screen, click on Tax Tools.
• Click on Tools.
• Click on Delete a form.
• Find the form listed and click Delete to the right.

 To report Personal item sales, follow these directions.

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Click Show more to the right of Other Common Income.
• Under Your income and expenses, click the Edit/Add button to the right of Form 1099-K.
• At the screen Did you get a 1099-K? click Yes.
• At the screen How would you like to enter your 1099-K? click Type it in myself.  Click Continue.
• At the screen Choose which type of income your 1099-K is for, select the button for Personal item sales.  Click Continue.
• At the screen Let’s get the info from your 1099-K, enter the information.      Click Continue.
• At the screen Personal Item Sales, you are told that further information will need to be entered.  Learn More provides detailed information for the next steps.  Click Continue.
• At the screen Your 1099-K summary, notice that the income relates to ‘Sale of Personal Items’.  Click Done.
• Under Your income and expenses, click the Edit/Add button to the right of Investments and Savings (1099-B, 1099-K….)
• At this screen, you will be asked to Review the Personal item sales (1099-K).

At the screen Now, enter one sale…., answer questions about the personal item sale.  Click Continue.

A version higher than TurboTax Deluxe Online may be required.

The entry will be reported:

• on Schedule D of the Federal 1040 tax return, and 
• on line 7 of the Federal 1040 tax return.

Capital loss for a personal item sale reports $0 capital gain on line 7 of the Federal 1040 tax return.

@yellow1-ix-netco