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No, that is not necessary for personal items sold at a loss. You can enter the information from the 1099-K once.
If you had done tests of the 1099-K prior to the final choice of personal items sold at no gain or loss, check that there is nothing for eBay in the Self- employment or Investments and savings section related to it. It might be easier to delete your 1099-K entry, self-employment, and investment entry if they appeared. Then Review to clear all errors, and then re-submit the 1099-K information.
Here is how you should report this in TurboTax Online:
Thank you. But I am still caught in what best can be described as a logic loop. I have deleted the 1099k several times. When I run the federal review, the 1099k keeps coming up for review. But there are no options just the same check boxes....Personal Items, All items sold at a loss or no gain.
Are you using TurboTax Online? If so, you may be able to remove IRS form 1099-K by following these steps:
In TurboTax Desktop, you are able to remove a form by:
If you report All items were sold at a loss or had no gain at the screen Personal Item Sales, the dollar amount is reported on Schedule 1 Additional Income and Adjustments to Income.
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