Less than $1000 of used items sold on eBay - NO 1099-K necessary...

[FrankInNC]

Greetings!

I earned less than $1000 from sales of used items on eBay last year. These were all older items that I sold at a loss. Further, eBay did not generate a 1099-K for me, saying "You didn't receive a From 1099-K because your gross amount of payments didn't meet the IRS or state reporting thresholds".

The following Intuit community message...

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/selling-personal-items-on-ebay/0...

...has a comment stating that I may still need to report the sales on my tax return, and that someone here in the forum might be able to give me advice on how I should do this. NOTE that I do NOT intend to report any losses for a deduction.

We're using the TurboTax Premium online version that we purchased via a link from our local credit union - but I don't see 'Premium' listed among the dropdown list choices (there's 'Premier', but no 'Premium').

THANK YOU!

[ThomasM125]

If the used items were things you bought for personal use and then sold them for less than what you paid for them, you don't need to report anything on your tax return, since the loss would not be deductible and you are not reporting business sales or hobby income.

Otherwise, you would report the income as hobby income or business income (if you had a profit motive.) You would report the income in the self-employed income section if you had a profit motive. If you did that you could deduct the associated costs. Otherwise you would report the income as hobby income in the Wages and Income section, then Less Common Income, then Miscellaneous Income, then Hobby Income.