Question

1099-K Smart Check Error

Forum|Forum|1 year ago
February 27, 2025
1 reply
0 views

Using Desktop TurboTax Deluxe Federal+State 2024.

I sold 1 personal item at a loss that PayPay reported on 1099-K. I entered it in the 1099-K section and noted that all items were sold at a loss. Smart Check is stopping me indicating Box 1 isn't checked and I need to select Schedule C, D, E, F or Form 4835. None of these apply.

I have seen advice stating to file the personal item as an investment under the 1099-B section, indicating my cost basis (original price paid) and proceeds (the sale amount). However, I still don't know what to check when Smart Check stops me and tells me I need to check one of those boxes:

[ ] Schedule C

[ ] Schedule D

[ ] Schedule E

[ ] Schedule F

[ ] Form 4835

[ ] Hobby Income

[ ] Other Income

[ ] Personal Property Rental

It indicates in bold that one is required, but checking any of them seems to reduce my refund and indicate that I'm getting taxed on the $1000 I sold a $2200 item for, even with an entry under the 1099-B section indicating that. What do I do here? I don't want to leave it blank and have my return get flagged since one of the boxes is apparently required.

KrisD15

Did you select "Personal items sales" on the "What type of income is your 1099-K for?"

Did you select "All items were sold at a loss or no gain"

If yes, there should be no smart-check errors.

Please review that entry

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

M

mizliz1011

I have filled out that the 1099k is for a personal item sale

but there is no box to say tjat

it was sold for a loss or no gain. Where can I find that.

I did put the cost of the item on investment loss as another reply said to handle it that way but it won’t allow me to link them on a schedule d just a c and it keeps saying it is an error-

it won’t let me double click the correct schedule to link them. And so it won’t let me file on line

J

Jen261973

I was just able to e-file. I think it’ll be accepted because all my workaround did was add a “See stmt” note in 8z of schedule 1. The top line shows up correctly.

Good to hear. I just got off the call and I was able to e-file, finally! The agent was able to see my forms and we previewed that schedule 1 was generated and was correct with the top box. He was very good and stayed with me all the way to the finish. It seems like there was a glitch wanting to review but all the info was correct. Glad it’s over and fingers crossed I get accepted, and hopefully you too!