Question

What do I do with a 1099-K less than $20,000?

Forum|Forum|4 years ago
April 10, 2022
1 reply
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I have a 1099-K from eBay. It's WAY less than $20,000 and WAY less than 200 transactions. I don't seem to be able to enter that income in TurboTax. Anyone know what to do with that income?

TurboTax Self Employed Online

ColeenD3

It depends on what the 1099-K was for.

These are just some of the questions regarding 1099-K.

1) Some of the things I sold pertained to a business, but some did not.

You have to separate the sales that were actually business vs those that were not. You have a hybrid situation.

2) None was business income. I sold old things I had laying around the house. This is not a business. You must include the 1099-K but you can zero out the income since you had no profit.

3) I did this so it's kind of a business but not really. Yes. It's a business. Report on Schedule C.

4) I bought and resold but it was a one-off type of thing. You had a sporadic activity. It is other income.