I continue to get error message that 1099-k worksheet has an amount from linked 1099-k but sales proceed don't match payment amount from form 1099-k;

[norman945]

I cannot find the disparity

[RobertB4444]

It's most likely a rounding error.  Remember, the IRS requires that all numbers be rounded to the nearest dollar.  So TurboTax rounds those numbers for you.  If the rounded numbers come out a dollar or two different from the total on the 1099-K (which they almost always do) then the program makes the math mistake for itself.

Go through all of your numbers from the 1099-K and round them to the nearest dollar yourself.  Then total them up.  Then take a dollar away from a couple to make the numbers match.

@norman945 

[norman945]

Not the answer to the problem.  Why is Turbo Tax generating a 1099-b worksheet when I do not have any plus or minus investments?

[JamesG1]

If you are reporting personal item sales from the receipt of an IRS form 1099-K, the software prompts you to enter one or more lines of data into a 1099-B worksheet and an IRS form 8949 / Capital D Capital Gains and Losses.

Are you able to view the tax return to compare the amounts from column (d) Proceed (sales price) on IRS form 8949 to the income reported on an IRS form 1099-K?

In the online versions, you may view or print at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets after you have paid for the software.

In the Desktop versions, one can look at the tax return by clicking FORMS, or by viewing the PDF through the Print Center.

@norman945 

[cleary71]

I am getting the same error the amount in my 1099-K matches the amount in form 1099-B (Form 1099-K reconciliation).   I am going around in circles trying to address this with no luck.

[JR999]

I agree.  Just going in circles here.  This is super frustrating.  Has anyone found a solution?

[JR999]

Ok.  May have found the fix at least for my situation.  When inputting the information for the 1099K box 1a, I rounded that up to the nearest whole dollar.  It was $xxx.95 so it naturally rounded up.  But I just entered the whole number excluding the cents and it seems to have cleared this error.  Clearly a flaw in turbo tax that needs to be fixed.

[JamesG1]

For some, rounding is an issue.  Make sure that the IRS form 1099-K is entered with box 1a rounded up or down, whichever is appropriate.

Then the entries on IRS form 8949 / Schedule D Capital Gains and Losses must also be rounded up or down.

Second, are you able to view the tax return to compare the amounts from column (d) Proceed (sales price) on IRS form 8949 to the income reported on an IRS form 1099-K?

In the online versions, you may view or print at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets after you have paid for the software.

In the Desktop versions, one can look at the tax return by clicking FORMS, or by viewing the PDF through the Print Center.

Third, @DMarkM1 here suggests reporting only the IRS form 1099-B / IRS form 8949 / Schedule D Capital Gains and Losses entries.  "Generally, for tax reporting, you just need to report the income shown on the 1099K without necessarily entering the form itself."

@JR999 

[PotteryPit]

No matter what I do, I can not get the error flag in the 1099-K  linked form 1099-B worksheet reconciliation box to go away.  I have rounded all numbers on 1099-K and the Cap Asset Sales sheets and all numbers are rounded and still the error flag  for "Total sales proceeds reported on the Capital Assets Sales Worksheet(s) must match the amount shown below" remains.

The one thing I can see is that Turbo Tax is reporting the income (income as part of sold at a loss) in the proper location on Schedule 1 Part I line 8z, but they are also reporting the adjustment for the loss income correction on the same line and that is not what is stated in the IRS guidelines... IRS states that the adjustment to the income for items sold at a loss should go in Schedule 1 Part II line 24z.  The sad thing is that these two entries are locked and can not even be overridden for correction.

Intuit / Turbo Tax needs to dig deeper to resolve this

[CaryWalker]

I'm having this same problem. All rounding is fine. It seems my Category C / short-term 1099K sales are not being carried through to the actual 8949. I have a bunch of Crypto transactions that are filling the form - so dunno if that's the issue. 

No matter what I do, I can't get the sales info I enter in the "Stocks, Mutual Funds, Bonds, Other" section to flow through to the 8949.

My category F / long-term transitions are flowing through just fine. 

So the error is correct - only my Category F / long-term sales are mapping back to the 1099K.

[CaryWalker]

Alright, I even went as far to just categorize everything as Category F / long-term. It flowed through to the 8949, but I'm still getting the mismatch error. Everything is rounded, nothing is mismatched. 

This is so frustrating.

[PotteryPit]

I have also gone through everything again.  All long term and short term transactions are mapping through and everything is numerically matched between 1099-K, 8949 and Schedule D forms.   At this point, I assume my only option is to file as is with the error flag still showing on the 1099-B Worksheet in the first and only field in the 1099-K Reconciliation area at the top of the form.

[CaryWalker]

I figured out -my- problem.

In the 1099K interview, it asks you to enter the total proceeds for items sold at a loss or no gain. I believe this amount needs to be subtracted from your overall sales - as you can't claim a loss.

Check out the form "1099K Summary". You need to reconcile your transactions to the total Schedule D "net amount of payment...transactions after adjustments" number. You will notice that this number has been reduced by what you entered in the prior/above interview question. I was (apparently mistakenly) trying to hit the gross amount from the 1099K. Once I matched my transactions to this number, I was good.

Hope that helps.

Once I mapped my sales to THIS number, it went through. 

[PotteryPit]

@CaryWalker  Thank for the info.  I had not looked at the 1099-K Summary before (or had not noticed it).  

However I am still confused.  On the 1099-K Summary my Gross Amt is the same as reported on what I received on the real 1099-K (rounded down).  My net amount after adjustments is $101 and on line for Schedule D it is $101.  And the line item for items sold at a loss plus the net amount after adjustments equals the gross amount at the top of the 1099-k Summary.  

Yet I still get the yellow error flag on the 1099-B Worksheet.  

[PotteryPit]

OK... I beat on this trying to assure that I really understood what I was doing in my spreadsheet.

I now have the forms filled out with NO errors.  On 1099-K Transaction Worksheet in the section for 1099-K Reconciliation Section, I was confusing the numbers expected for entry.  In Boxes 1, 2, and 3, gross numbers are expected for all entries.  1) Gross Income All Items, 2) Gross income from items that were in the end sold at a loss and 3) That field is calculated, but it represents the Gross funds received for the items that did result in a profit.  

In the Cap Asset Worksheet, you then use the Gross Proceeds for each item sold in the Sales Price (Proceeds) column and then in Cost or Other Basis is the raw cost of item sold plus any fees for selling.

Forms like this get a little difficult for users that are not overly versed in accounting skills and that was clearly my problem. 

Thanks to @CaryWalker  for providing enough feedback to make be challenge what I was doing.