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1 reply

KathrynG3
KathrynG3
February 2, 2021

Negative taxable income could be an offset to non self-employment income that is being reported. 

 

For example, if Form 1099-K was received for selling personal goods, report 1099-K Personal Property Sales and 1099-K Cost of Personal Property up to the amount of the sale. In other words, if $100 of goods were sold on eBay without being in a trade or business to resell items, then this form could be offset by -$100 on the return, listed as Cost of Personal Property. 

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