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trbanach
New Member

Received a 1099k from Ebay. All sales were of personal items and all sold at a loss. Where do i enter the info for each sale; is it necessary to enter each transaction?

 
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3 Replies
MindyB
Expert Alumni

Received a 1099k from Ebay. All sales were of personal items and all sold at a loss. Where do i enter the info for each sale; is it necessary to enter each transaction?

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:

  • Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
  • Choose Add a 1099-K
  • The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
  • Enter the information from your 1099-K
  • After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"

 

 

 

 

trbanach
New Member

Received a 1099k from Ebay. All sales were of personal items and all sold at a loss. Where do i enter the info for each sale; is it necessary to enter each transaction?

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.  

JamesG1
Expert Alumni

Received a 1099k from Ebay. All sales were of personal items and all sold at a loss. Where do i enter the info for each sale; is it necessary to enter each transaction?

Are you using TurboTax Online?  If so, you  may be able to remove IRS form 1099-K by following these steps:

 

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

In TurboTax Desktop, you are able to remove a form by:

 

  1. Selecting FORMS in the upper right hand corner of the screen.
  2. Select the correct form in the listing on the left side of the screen.
  3. Select Delete Form at the bottom of the screen.

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.

 

 

 

@trbanach 

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