1099-B wash sale entry triggering a review prompt in TT. Do I ignore the prompt or have to remove the wash sale amount?

For example,

1099-B states:

Proceeds: $4900
Cost Basis: $5500
Wash Sale Loss Disallowed: $250
Gain or Loss(-) : -350

The file import of my broker's 1099-B correctly filled out these areas in TT; however later on it gets flagged to check the entry, saying:

"Form 1099-B Worksheet (TD Ameritrade) : Wash sale loss disallowed is only for wash sales. Do not enter for I Shares Silver Trust ETF"

I'm very confused by this. Any help would be greatly appreciated.

272

Expert Alumni

Mar 10, 2020 12:25:01 PM

You may have to split this into two transactions. One for the loss and one for the Wash Sale. You could split it:

$2,750, 2,400, -350 Loss
$2,750, 2,500, -250 Wash Sale

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1099-B wash sale entry triggering a review prompt in TT. Do I ignore the prompt or have to remove the wash sale amount?