We are trying to file our 1040 but the assisted Qs for form 1099-K are returning some rounded and some non-rounded values, not matching. Can't file. Any ideas?

[RyanRayLA]

The regular "question flow" is taking our inputs and rounding them for certain input boxes in the 1099-K but it is not rounding them for others. This is causing a conflict with the 1099-K Reconciliation worksheet. We've tried to correct this by deleting the form in "Topic Search" but the recreated form continues to flag the same error, preventing us from filing. Any help would be greatly appreciated.

[DawnC]

Can you clarify the error code or error message you are getting on the worksheet?

[RyanRayLA]

Hi there,

There is no “error code”, per as. Simply, when we reach the “Review” section, we are told to review the data entered for our 1099-K form. At the top of the screen, a text blurb appears stating that w the amount in “Box 1” (at the top of the form) can’t be less than the amount in Box 2 of “1099-K Reconciliation” (not 100% sure about those box #s). We tried manipulating the data in the boxes mentioned but one of the boxes is grayed out and we cannot change it. The system is rounding the value we type into the form 1099-K and then it is not rounding the value it entered showing that our 1099-K was 100% without gain. 

[RobertB4444]

So, the way the IRS wants tax returns done is with the cents removed.  The system therefore rounds everything to the nearest dollar because that is what is required in order to file with the IRS.

You - quite correctly - have entered all of your personal item sales with the cents attached and that has caused a rounding error where the reconciliation doesn't match the original amount.  In order to fix this you may have to mess with the totals a little bit.  Add a dollar to a couple of the sales and make sure that the total matches.  It's not elegant, but it'll work.

@RyanRayLA