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1099K from ebay

ms856nick
Level 3

Client received a 1099 K from eBay for sports jerseys he sold, some at a loss some he made money. He is not in the business of buying and selling, just every few years he gets  rid of old/not popular items. Normally what he sells is at a loss, not this year. I have entered the items on schedule D , but struggling as to account for the 1099K as I have put it under other income Maybe I am overthinking this, any help would be appreciated. Thanks in advance

 

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1 Comment 1
dascpa
Level 12

If the net is a loss for the year go to the 1099-K worksheet, and then fill in the 1099-K Reconciliation section towards the bottom of the screen. Be careful, certain sports jerseys might be considered a "collectible".