1099K does not match my transaction history or sales? How do I reconcile it?

Wheelingit
Contributor
Contributor

I just received my  2018 1099K from Paypal and I cannot for the life of me reconcile the number with my actual sales. There is ~$3K difference (in my case the 1099K from Paypal is ~$3K lower than what I anticipated, based on my recorded net sales (after fees)). I have downloaded my monthly and yearly 2018 business reports as well as my 2018 transaction detail history, but no matter how I manipulate the numbers I just cannot figure out where Paypal is getting it's 1099 number from?? My transactions are simple (95% are simple subscription payments), so it should be a straight-forward case to match the numbers to the 1099K, but they just don't. Anyone know how to figure out what is actually going into the 1099K??

 

Note/ On Paypal 1099K FAQ section (https://www.paypal.com/us/smarthelp/article/FAQ919) it says the following:

 

  • A Reconciliation Report is included with your 1099-K that will list all of the transactions included in your total gross sales for goods and services.

But I have looked and cannot find anything called a reconciliation report? WHERE do I find this mysterious report so that I can reconcile my numbers for my business return?

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