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Level 2
posted Mar 2, 2021 12:53:09 AM

I import 1099B from Merrill Edge. Turbotax summary different with Merrill Edge summary around $30. Look like the Turbotax round up number at some data. What should I do?

1) I import 1099B from Merrill Edge. Turbotax summary different with Merrill Edge summary around $30 (gain, loss, total sale...). Look like the Turbotax round up number at some data. What should I do?
2) Last years, all 1099B data are attached to 1040 form. This year only 1 page of data is attached. Is this normal?
Thank you.

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1 Replies
Level 8
Mar 2, 2021 11:52:27 AM

No, this is not "normal" but has been an issue this year with many brokerage firm electronic statements and many tax prep software products. First, before worrying too much at all, check to see if the $30 discrepancy is causing your "bottom line" to affect the tax bracket that you are falling into. It should not be at all, just to let you know. Therefore, as long as your tax due or tax refundable amount is not affected by this $30 discrepancy, you are just fine. You will not hear from the IRS unless that end result differs due to the amount of the discrepancy.