Question

Does it count as being self employed when you only sold one slightly more expensive item? Unsure how to file these since it's not a career

Forum|Forum|4 years ago
February 17, 2022
1 reply
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I received a 1099-k form because I sold one slightly more expensive item, however I'm unsure how to answer since it's not a real career. It was a one time thing.

TurboTax Deluxe Online

J

JamesG1

"Revenue Ruling 58-112 ....... characterizes a trade or business activity as one that is regular, frequent and continuous."

Especially if your one sale was a personal item, the income probably does not qualify as self-employment income.

If this is the case, a more appropriate area to report the sale may be Federal / Wages & Income / Your Income / Investments and Savings / Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.

Type the information rather than download and select personal items. The sale will be reported on Schedule D and IRS form 8949.

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