1099-k / 1099-B Worksheet Error

[TheHammer123]

I am using TurboTax desktop software.

I sold sports tickets in 2024 and received a 1099-K from Ticketmaster. I selected personal items within the TurboTax software and then entered the fields it asked for.  I sold some of these for a loss or no gain which I entered that amount of the sales from that portion.  This resulted in a gain of $1,017.14 on the ones I profited from. I then went into the investment income section and it had a red flag saying I needed to review a gain from the 1099-K.  I completed all of these steps.

During my smart check review it found an error asked me to "Check this entry".  It's "Form 1099-B Worksheet: Amount from 1099-K has an amount from linked Form(s) 1099-K, but the sales proceeds on this worksheet don't match the payment amount from Form 1099-K. Add sale(s) on this worksheet with sale proceeds to match the amount reported on Form 1099-K."

In the section "Form 1099-K reconciliation" of the 1099-B Worksheet, it has the amount of the gain ($1,017.14) not the amount of the payments from the linked form 1099-K. I cannot edit that number either.   

Any ideas why it's putting the $1,017.14 and not the actual sales amounts reported on my Form 1099-K?

[JamesG1]

Yes, here are some ideas.  First, I recommend rounding the $1,017.14 to $1,017.00 so as to avoid errors in the software solely as a result of the $.14 difference.

Second, follow this example.  If the IRS form 1099-K reported $1,517 in box 1a, 

1. You would report the full $1,517 at the screen Let's get the info from your 1099-K.
2. Click Continue.
3. At the screen Personal Item Sales, you would report $500 at I sold some items at a gain.  The $500 should be reported at the top of Schedule 1 Additional Income and Adjustments to Income.

Now you move on to the IRS form 1099-B transaction.

1. The $1,017 that is left is what is reported as Proceeds at the screen Review this sale.
2. Cost basis is reported under Total amount paid, reported the taxable gain.

To report any number other than the $1,017 under Proceeds at the screen Review this sale will result in the error message that you describe.

In your question, you refer to the $1,017 as the gain on the personal items, so I suspect that the amount reported in box 1a of the IRS form 1099-K is a higher number.