my 1099k amount is correct as to what I received however I sold those items at a loss

To report a loss on your 1099-K earnings, the process differs depending on whether the items were sold as personal items or as part of self-employment. Here’s how to handle both scenarios:

Reporting Loss for Personal Items

If you sold personal items at a loss, you cannot deduct the loss on your tax return. However, you can report the income to ensure you don't pay taxes on it. Here’s how to do it:

1. Report the Income: Enter the income from the 1099-K on your tax return.
2. Offset the Income: Subtract the income by reporting it as a loss. For example, if you sold a dining table for $750 but originally bought it for $1,250, you can report the $750 as income and then offset it by reporting the same amount as a loss.

To enter a 1099-K for-sale of person items, see steps below:

1. Open or continue your return in TurboTax
2. Go to search bar and type 1099-K
3. the click the jump to 1099-K link
4. Follow the onscreen instructions to enter your 1099-K.

Reporting Loss for Self-Employment Income

If the items were sold as part of your self-employment, you need to report the income and expenses on Schedule C. Here’s how to do it:

1. Enter the Income: Report the income from the 1099-K on Schedule C.
2. Deduct Expenses: Deduct any expenses related to the sale of the items. This includes the cost of goods sold, shipping, and other related expenses.

To enter a 1099-K for self-employment income, see steps below.

1. Open or continue your return.
2. Go to Schedule C.
3. Answer the questions about your business and its expenses until you get to the Here’s your info screen.
   • If you’re returning to Schedule C, select Review or Edit next to your work and then answer the questions about your business.
4. Select Add income for this work.
5. On the Let's enter the income for your work screen, select Form 1099-K and Continue.
6. Enter your 1099-K info.

In either scenario, TurboTax will help you complete the appropriate forms related to the 1099_K.

If something else is needed, provide additional details and reach back out.

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