Skip to main content
March 7, 2025
Question

Desktop Turbotax Form 8949 isn't round same as 1099k entries

  • March 7, 2025
  • 1 reply
  • 0 views

Desktop Turbotax Form 8949 isn't round same as 1099k entries causing the gross proceeds to have mismatch by about $3

    1 reply

    March 9, 2025

    Are you saying that you are reporting IRS form 1099-K and personal items sales?  And are you saying that the individual item sales include dollars and cents?

     

    If so, you may find that the individual item sales may not equal the amount of IRS form 1099-K box 1a because of the rounding of the dollars and cents.

     

    Consider, first, rounding all of the individual item sales to rounded dollars.  Second, make sure that the total of the individual item sales equals the amount of IRS form 1099-K box 1a after that amount has been rounded to whole dollars.

     

    For instance,

     

    item    $4.55    rounds to   $5

    item    $3,22     rounds to  $3

    item    $5,85     rounds to  $6

     

    Total   $13.62   rounds to $14

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"