For example, you bought a couch for $1,000 and sold it through a third-party vendor for $700, which was reported on your Form 1099-K. In the entry space next to line 24z write “Form 1099-K Personal Item Sold at a Loss” and also enter the amount of the sale proceeds. If you sold a personal item at a loss and you did not report the loss on Form 8949, enter the amount of the sale proceeds from Form 1099-K on line 24z that you reported on line 8z.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |