eBay 1099-K Selling Personal Items How to Access Schedule 1 Line 24z

[pboynton]

That's great for online users, but what about us desktop users?  These instructions don't seem to apply.

[JamesG1]

To report Personal item sales in TurboTax Desktop, follow these directions.

• Click on Start to the right of Income from Form 1099-K.
• Select Personal Item Sales.  Click Continue.
• Enter 1099-K 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.
• Click Start to the right of Stocks, Mutual Funds, Bonds....
• At this screen, you will be asked to Edit the Personal item sales (1099-K).
• At the screen Select any less common adjustments that apply, select Any loss from this sale is not deductible....  Continue.
• At the screen Here's all the sales reported...., Click Add to add additional lines as needed.

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.

Make sure that you retain any information about the items sold should you be required to demonstrate to the IRS that this is not taxable income.

@pboynton 

[viguejt]

I am using TT Premier. I am having a similar issue. I was able to enter in the 1099-K for Ebay. All personal sales at a loss. I correctly entered the individual sales that populated on 1099-B and shows up correctly on 8949. When I run Federal error check I get an error. "Check this Entry Form 1099-K Wks (Ebay Commerce Inc): Link to Sch D worksheet links to same copy of this worksheet as another copy of form 1099-k. Select a unique copy of the worksheet for each form 1099-k. I have a single 1099-k listed for Ebay. I have a single Sch D worksheet for ebay and a single 1099-b listing the capital asset sales as personal sales and at a loss. I can't resolve this error message. Items are correctly listed with financials figures, but they are all whited out for privacy reasons. Errors of screen shots listed below.Federal check error message

[KrisD15]

The TurboTax program has gone through several updates this season to accommodate Form 1099-K.

The sales from the 1099-K had been continued onto Schedule D, however this flow in TurboTax seems to have been altered. 

Personal items CANNOT generate a loss on your tax return. The IRS does NOT allow you to take a loss on the sale of personal items. You are only allowed to claim a loss if you are a business, or the loss is from an investment vehicle. 

Please delete the entries you made for that 1099-K

Only enter the 1099-K from Ebay reporting sale of personal items at a loss under

Personal Income

Other Common Income

Income from 1099-K

Be sure to select "Personal item sales" on the "Choose which type of income your 1099-K is for" screen

Enter the information reported on the 1099-K

Select "All items were sold at a loss or had no gain"

Continue

That is all that needs to be done for a 1099-K reporting sale of Personal items when there is no gain to report.  

IF ANY PERSONAL ITEM DID SELL AT A GAIN, you would need to select the other option "I sold some items at a loss or had no gain"

In this case, you would continue to the "Investment Income" section and report the gain realized on those particular items. 

Again, only for personal items sold at a gain do you report the gain. Unlike traditional investments, when selling personal items, losses do NOT offset gain. 

@viguejt 

[yoamd129]

Thank you for this clear response, KrisD15. I have followed your instructions for this concern but have unfortunately continued to encounter issues. I completed all of your steps, and after selecting "All items were sold at a loss or had no gain", and Continue, it seemed I was good to go. This was the last step to completing my tax return, However, when attempting to Review my return in order to file, I once again encountered the error that prompts me to enter a link to a Schedule C, whatever that is. I do not operate a personal business or sales website. I simply sold some old toys on eBay. Please advise! Thank you.

Here's a screenshot of the error screen, which has been present for weeks and prevents me from completing my return. No options, including the mysterious 'box in the reconciliation section', are available to me in the box pictured. I am desperate for assistance. I've been trying to solve this issue since the first week of February, hoping TurboTax will heroically solve this issue, and now the clock is ticking.

[KrisD15]

There have been a few program changes for the 1099-K, are you sure the program does not have TWO 1099-K's in the system? 

Look under Income

Other Common Income

Income from Form 1099-K

How many are listed on the 1099-K summary screen?

Online:
Click TAX TOOLS on the left side-bar
Click TOOLS on the Drop-Down 
Click “Delete a Form” on the TOOLS CENTER screen 
Look through to see if there are two 1099-K listed

If you can find two listed, try to delete one. 


 

[yoamd129]

Thank you so much for the response. I am certain that only the one singular 1099-K form is entered. Per suggestions from TurboTax representatives via phone calls, I've also tried entering the form as a Miscellaneous form, as the Other Common Income option, or as the personal business option. At this time, it is listed once as the Other Common Income option. 

[BrittanyS]

It would be helpful to have a TurboTax token.  The token provides a sanitized version of your return.  We will be able to see the numbers but not any personal information such as your name, SSN, or address.  

If you would like to do this, here are the instructions: 

In TurboTax Online, go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen, and you will get a Token number. 

In TurboTax CD/Download versions, go to the black panel on your screen and select Online. 

1. Scroll down and select Send tax file to Agent. 
2. You will see a message explaining what the diagnostic copy is.  Click send through this screen, and you will get a Token number. 

Reply to this thread with your Token number. 

We will then be able to see precisely what you are seeing, and we can determine what exactly is going on in your return and provide you with a resolution.

[yoamd129]

Thank you so much, @BrittanyS  . As of this morning, the same error on my Review page is generating. I have created a token: 1107901

I appreciate any assistance you can provide.

[BrittanyS]

I have reviewed the token.  To clear the error, you will need to follow these steps:

1. Click Forms in the upper right hand corner
2. Under box 1 put an X in Other Income

This will allow for the income to be listed under other income line 8z.  The adjustment will also be listed cancelling out the income.  You can review this under Forms.  Scroll down to Other Income and review the form.  To return back to the return and run a check for errors follow these steps:

1. Click Step-by-Step in the upper right hand corner
2. Click Review 
3. Run Error check again

@yoamd129 

[yoamd129]

Hello @BrittanyS ,

Thank you. But, I do not see anything on the upper right corner of my screen called 'Forms', or anything called Step By Step either. I am using the online Deluxe version of TurboTax. My computer is not conpatible with the CD/software version of TurboTax. I don't seem to see a way to just select "Forms". Can you please tell or show me where this option is located on the web TurboTax to solve this?

[JamesG1]

In TurboTax Online, report an IRS form 1099-K for Personal item sales by following these steps.

• 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.
• Click Start / Revisit 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.
• Select All item were sold at a loss or had no gain.  Click Continue.
• At the screen Your 1099-K summary, notice that the income relates to ‘Sale of Personal Items’.  Click Done.

The entry will be reported:

• on line 8z of Schedule 1 of the Federal 1040 tax return, and 
• on line 8 of the Federal 1040 tax return.

@yoamd129 

[yoamd129]

Thank you, @JamesG1 . I have once again followed these exact steps, but am again faced with the same error when trying to finalize and 'Review' my return. I have once again encountered the message in my screenshot below, suggesting I link this 1099-K to my Schedule C form for a personal business.  I do not operate a personal business or sales website. I simply sold some old toys on eBay. Please advise how to solve this using TurboTax Deluxe online. Thank you.

Here's a screenshot of the error screen, which has been present for weeks and prevents me from completing my return. No options, including the mysterious 'box in the reconciliation section', are available to me in the box pictured. I am desperate for assistance. I've been trying to solve this issue since the first week of February, hoping TurboTax will heroically solve this issue. Several others on this thread have attempted to help me, but I cannot get past this...

[JamesG1]

In TurboTax Online, I am able to generate this error message by entering the an IRS form 1099-K and selecting Self-employment income.

To remove the error message, delete the IRS form 1099-K by clicking the Delete trashcan to the right of the IRS form 1099-K at the screen Your 1099-K Summary.

Click Done, then Review down the left side of the screen to remove the error message.

In TurboTax Online, report an IRS form 1099-K for Personal item sales by following these steps.

• 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.
• Click Start / Revisit 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.
• Select All item were sold at a loss or had no gain.  Click Continue.
• At the screen Your 1099-K summary, notice that the income relates to ‘Sale of Personal Items’.  Click Done.

The entry will be reported:

• on line 8z of Schedule 1 of the Federal 1040 tax return, and 
• on line 8 of the Federal 1040 tax return.

In the online versions, you may view or print at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets after you have paid for the software.

Let us know at @JamesG1whether this answers your question.

@yoamd129