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February 27, 2023
Question

I did not receive a 1099 k,I sold 60 personal items from my garage on eBay and had. $395 profit on sales of $4000 . How should I report this profit ?

  • February 27, 2023
  • 1 reply
  • 0 views
Would I have to record all sales individually or as a total ?

1 reply

AliciaP1
February 27, 2023

You can report the sales as a total.

 

To enter your personal items sales in TurboTax Online you can follow these steps:

  1. Within your return, use the magnifying glass icon to search for 1099-K and select the Jump to link at the top of the search results
  2. When you get to the Choose which type of income your 1099-K is for screen select Personal item sales and Continue
  3. Enter the information from your 1099-K
  4. Click Done
  5. Go back to the Wages & Income screen and click Edit for Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto)
  6. Click Review for the 1099-K you entered and here you can enter the expenses and details for the items you sold
  7. Proceed entering/reviewing your return.
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billc199Author
February 27, 2023

Thanks but I stated I didn't receive a 1099k Did Not.

February 27, 2023

You can enter the information about your sales without a 1099-K.  

 

In your return, go to Investment Income

  • Choose Stocks, Mutual Funds, Bonds, Other and start
  • Answer Yes that you sold investments for the year
  • Answer No to the 1099-B question
  • Choose the investment type, everything else
  • Description  - Personal items
  • Sales Proceeds -
  • Date Sold- Use the last sale date
  • Date Purchased - Use a date at least a year earlier than the sale date
  • Tell us how you acquired the property, purchase
  • Enter your cost of the items

@billc199 

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