1099-K ticket sales. One at a loss. TT entered Income on Schedule1 line 8z. How do I get offset expense to be on Schedule1 line 24z?

[bvitenas]

7 of 8 tickets sold for a gain and are being reported on Schedule D and form 8949. I identified the one loss transaction during the TT Q&A and it reported the income on Schedule1 line 8z. I understand the offsetting expense should show on Schedule1 line 24z. How do I get TT to display it?

[JamesG1 · Accepted solution]

Are you reporting the IRS form 1099-K income as personal item sales?

If so, capital loss for a personal item sale reports $0 capital gain on the tax return.

The amount included in error or for personal items sold at a loss is reported at the top of Schedule 1 form 1040.  

The expenses of the sale or the cost basis of the sale are not reported on the 2024 tax return.

[bvitenas]

Thanks. I was so focused on Schedule1 lines 8 and 24 that I missed the top line of the schedule for my exact situation.