The totals reported on my 2021 1099-K differ (over) from my total collected on credit cards as reported in Square Summary. And not by any amounts that add up to other categories (like gift card sales). How do i reconcile my 1099-k with Square Reports and is it possible they simply got every month wrong? This is very frustrating. I've been a square customer for 10 years and i've never noticed this before.
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Great Question.
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The 1099K has the gross amount of sales before any fees but it also includes tips added on a customers card.
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