Am looking at my 1099-K from Square, and the gross amount (in box 1a) reported is higher than what I see in my Square reports for the year.
I lined up the monthly breakdown from Square’s 1099-K against the monthly reports in my Square dashboard, and only a few months don’t match up.
What’s confusing is:
* The differences don’t match my refund amounts, and
* Some months that are off didn’t even have refunds at all.
* I only accept credit/debit cards — no cash or external payment sources.
If anyone has successfully reconciled their 1099-K with Square’s internal reports, could you tell me which specific report I should be comparing against? Percent wise, the 1099-k is only more by ~0.25% than the reports from Square.
If anyone has successfully reconciled the 1099-K to Square’s internal reports, I’d love to know how you approached it (or which report actually lines up with the IRS number).
Why is my Square 1099-K total higher than what’s shown in my Square reports?
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Posted by ifeelinvincible0