Question

1099-k reconciliation on 1099-B Worksheet

Forum|Forum|2 years ago
March 12, 2024
3 replies
0 views

I received a 1099-K from ticket sales with acct # and reporter's tax ID number. This leads me to believe that the transactions were reported to the IRS, but I cannot uncheck the box indicating they were not reported to the IRS. This is causing an error that I am unable to correct.

J

JamesG1

What type of IRS form 1099-K income are you trying to report?

If you are encountering an error that you cannot correct, you may want to delete the entry and start over and avoid the entry that caused the conflict within the software.

Delete the entry by clicking the delete trashcan to the right of the entry at the screen Your 1099-K Summary. Depending upon the type of income that has been reported, other entries may also need to be deleted.

The re-entry of the IRS form 1099-K depends upon the type of income that you are reporting.

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M

mpnymickAuthor

Thanks James

I tried your suggestions, but they did not work. My 1099K is from the sale of personal items (tickets). The issuer of the 1099 has my TIN and I have their TIN. The proceeds were reported to the IRS. The problem seems to stem from my inability to uncheck this box. Thanks for your help!

J

JamesG1

Is this an Review error message in TurboTax Online?

The IRS form 1099-K reporting the sale of personal items seems to create a blank entry in IRS form 8949 / Schedule D. I have not seen this problem where this X entry causes Review issues.

If you are using TurboTax Desktop, this X entry might be removed using the FORMS mode.

If I were unable to change the contents of this box in TurboTax Online, I would, first, want to delete both the IRS form 1099-K entry and the accompanying IRS form 8949 / Schedule D entries.

Then I would run Review to see whether the software is clear of errors. Sometimes you find additional error messages as the connections between the two forms are revealed. You keep correcting or deleting the offending Review issues until you arrive at a clean slate in the TurboTax software.

You have to arrive at the clean slate before you can move ahead reporting the IRS form 1099-K entry.

Hope this helps.

@mpnymick

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M

MichelleMuir

I am having the same exact issue. Does anyone know the “fix” yet?

J

JamesG1

Are you experiencing an error message? What does the message say?

The entry shown here refers to the IRS form 1099-B entry reporting the sale of personal items.

The sale of personal items likely was not reported to the IRS on an IRS form 1099-B. The income was likely reported only on the IRS form 1099-K. Please clarify.

@MichelleMuir

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M

marlanpa709

It is now 2025 and I am getting the same error on the 1099-B. I entered the 1099-K which then triggered the 1099-B worksheet. When the 1099-B opened it had the "Transaction were not reported to the IRS" box preselected without the ability to uncheck. This is causing an error in the return and I am not able to file. Need help in fixing as it doesnt look like any of the suggestions from last year worked.

J

JamesG1

What version of TurboTax are you using? Are you using the Online version or the Desktop version? Reporting of IRS form 1099-B and IRS Schedule D requires Premium version.

The posting of IRS form 1099-K for personal item sales is a two-step process.

First, you post the IRS form 1099-K amount of box 1a.
Second, you post the IRS form 1099-B Proceeds From Broker and Barter Exchange Transactions to report the sales proceeds and the cost of sales.

Make sure that the amount reported on the IRS form 1099-K box 1a equals the Proceeds reported for the multiple entries of IRS form 1099-B.

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