Scroll to Other miscellaneous expenses select the toggle, scroll to the bottom of the page and click Continue.Scroll down to EXPENSES and click in the lower left hand corner, Add expenses for this work.
![ebay turbotax 2017 home and business ebay turbotax 2017 home and business](https://i.pinimg.com/originals/ff/8e/51/ff8e517918c5134966fbd6578fffb3e8.jpg)
![ebay turbotax 2017 home and business ebay turbotax 2017 home and business](https://i.ebayimg.com/images/g/X8gAAOSw6oVh4LhV/s-l225.jpg)
Report any cashback or rebates under LESS COMMON INCOME using Rebates and refunds, includes any income returned to customers.Report Form 1099-K as received in the COMMON INCOME section under Other self-employed income, includes 1099-K, cash, and checks.From the Wages and Income section, go to Self-employed income and expenses and select Start/Revisit to begin with reporting Form 1099-K. Self-employed persons must use the rebates option under income or report any offsets as miscellaneous expense.įor reporting Form 1099-K from self-employment with offsetting amounts that is associated with a trade or business you own and operate, TurboTax offers two self-employed options. In the self-employed section, negative income cannot be reported. Otherwise, Form 1099-K must be included in the self-employed section of the return. In other words, if the goods cost you $100 and Form 1099-K was for $10 in sales, the maximum cost allowable would be $10.For the cost description, include Form 1099-K and Cost of Personal Property.Next, enter an adjustment to reflect the cost of these items as an offsetting, negative amount up to the amount of the income.For a description, include Form 1099-K and Personal Property Sales.
#Ebay turbotax 2017 home and business full
It is essential that the full amount be entered.
![ebay turbotax 2017 home and business ebay turbotax 2017 home and business](https://m.media-amazon.com/images/I/71iVlwKXaEL._AC_SL1333_.jpg)
This will mean you appropriately pay -0- tax on the non self-employed income.įor reporting Form 1009-K for personal items sold not associated with a trade or business, you have two options:
![ebay turbotax 2017 home and business ebay turbotax 2017 home and business](https://i.ebayimg.com/thumbs/images/g/EZgAAOSw1VBfsCa~/s-l300.jpg)
If you do not need the self-employment section, you have two options to report Form 10999-K in TurboTax.īoth following options will report Form 1099-K and also zero it out on your return. If your Form 1099-K is for personal items sold, similar to having a garage sale, and you were not in a trade or business, the IRS allows you to also deduct the related expenses for the sale up to the amount of the sale.