How to Reconcile Form 1099-K
Disclaimer: This content is intended for general informational purposes only and should not be construed or relied upon as tax, legal or financial advice, or applicable to your particular situation. You should consult with your own tax advisor regarding your tax obligations. The views expressed in any of these resources do not represent the views and are not affiliated with or endorsed by Vrbo or Expedia Group in any way.
To reconcile the amounts in box 1a or box 3 of your Form 1099-K you will need to export a copy of your Payout Summary for the preceding calendar year. This report reflects all payment and refund transactions processed through your Vrbo account, and is organized by the listing number (Property ID) as seen in column A.
To access and export this report:
- Login to your account
- Select Reservation Manager
- Select Financial Reporting
- From the Payout Summary tab:
- Select the start and end dates for the previous calendar year
- Select Payouts within this date range in the next box.
- Select Download to export the Payout Summary
- It is important to save this report immediately after it downloads.
Note: Sometimes the download speeds can be slow due to the amount of data being exported for an entire year.
After the report has been downloaded and saved, open it. Transactions processed outside of our platform, along with refunds, should be excluded from the reportable transactions.
To view the positive (payment) transactions for reconciliation:
- Highlight/select the entire sheet.
- Select the Sort & Filter funnel icon.
- Select Filter.
- Locate the Gross booking amount column.
- Select the column header arrow to open the filter options.
- Select Number Filters.
- Select Greater Than or Equal to.
- Enter the number zero (0) in the box next to “is greater than or equal...”
- Select OK.
Once you have determined the reportable transactions:
- Box 1a should generally agree to the sum of all the positive amounts in the Gross Booking Amount column of the Payout Summary.
- Box 3 should generally equal the count of all the positive amounts in the Gross booking amount column of the Payout Summary.
If your bank account(s) were associated with different tax IDs throughout the calendar year, even on the same listing in some instances, there will be a 1099-K for each tax ID if federal or state thresholds were met. To reconcile the sum and/or the count on the Payout Summary you may need to combine amounts across each 1099-K form.
Example of 1099-K transaction
- A traveler books a reservation at your property and pays a total of $1,050 ($1,000 rent + $50 cleaning fee).
- The guest decides to cancel the trip, and you issue a 50% refund per your policy.
- The guest receives a refund of $525.
- Vrbo is required to report $1,050 on the 1099-K.
- Your Payout Summary shows two-line items for this reservation
- $1,050 (the gross amount/payment transaction)
- -$525 (the refund)
- Your 1099-K reflects the gross value of the original transaction. However, your taxable income should include both the gross amount and the refund amount.
If you need help reconciling your 1099-K at a transaction level, you should consult your tax advisor.