Retirement tax questions
I would certainly use rounded numbers on both the IRS form 1099-K entry as well as the entries to IRS form 8949 / Schedule D Capital Gains and Losses.
The detail on Schedule D must equal the total of the IRS form 1099-K's that have been entered.
The total of the proceeds column (d) must equal the total of the IRS form 1099-K or the software will give you an out of balance error message.
You may elect to delete the entries and start over.
You are able to remove the 1099-K(s) by following these steps:
- Down the left side of the screen, click on Tax Tools.
- Click on Tools.
- Click on Delete a form.
- Find the form listed and click Delete to the right.
Remove the worksheets here by clicking the delete trashcan.
