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jkeenan02
Returning Member

Imported 1099 doesn’t match actual 1099

I imported my 1099 info into TT. It appears that due to rounding errors, the total proceeds  and total cost basis on the generated 8949 form are each $10 higher than stated on the institution’s 1099B. Even so, since the proceeds and costs are overstated by the same amounts, the total gain on the 8949 matches the total gain on the 1099B.

 

Question, will the IRS have an issue if the total proceeds/costs on the 8949 don’t match the 1099, but the total gains match?

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1 Reply
PattiF
Expert Alumni

Imported 1099 doesn’t match actual 1099

No, the IRS will not have an issue with the slightly different numbers on the proceeds and cost basis. The number shown for the total gains is the important information.

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