TurboTax 2022 Form 1040 - Enter Form 1099-K for GAINS on Personal Use Sale Items

How to file your taxes with TurboTax?
In this 3rd video, I cover the basics of how to enter the sale of personal use items when you sell those items for gain. Per the IRS guidance (FS-2022-41), gains and losses on personal use items should be reported differently.
View the next video in the series on how to record losses on the sale of personal use items.
For other TurboTax 2022 tutorial videos, please see the following playlist:
• TurboTax Form 1040 Tut...
See the IRS FAQ on Form 1099-K reporting:
www.irs.gov/pu...
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[@CharisseJones]

Thank you for this video as well as the next one for Form 1099-K for Losses. I was unable to get past an error until I watched both videos.

[@JasonDKnott]

Glad it helped!

[@elginG80]

I’ve been stuck with turbo tax prompting me to match the cost on my 1099K from my eBay sales and to list cost of items Individually (different wording they use though). I think your video is exactly what I need To accomplish what they’re asking for. I’ve entered the total amount but I think they want me to list the items individually but didn’t know how? Thank you, I’ll try this as soon as I get home.❤

[@padam231]

I am having the same issue where it says to match the 1099-K with worksheet even though I added all items exactly with exact bottom line. I am using the desktop version. Looks like a bug in the software. Did you get your issue resolved?

[@raypesos3627]

If you’ve sold 200+ items on eBay you have to input every single one individually ?

[@MrsBuddevil]

Did you find this answer

[@jessep8767]

What if I do not remember the date I originally acquired the item?

[@SignalSmoker]

thank you for this informative video, i use turbotax which is a plus. my question is: i bought a product in 1984 for $175.00.- does inflation qualify that value to go up? it equates to $513.00

[@illWillienumber31]

Thanks! This was a lot of help.

[@JasonDKnott]

Glad it helped!

[@AM-he5ze]

I sold a few personal items on Poshmark, Gross sell for a year is $610 (net $530). But I didn't get 1099-K. How do I need to do taxes in this case?