When it asks me to review and "enter amount disallowed under Wash Sale....." i try to leave it blank to disallow the entire loss it still asks me to come back to it?

[billyconner44]

I linked to Betterment and at the end when reviewing it asks me to enter the amount disallowed under wash sale rules as it pulled in 0 so I have to update it. I try to update and leave blank to disallow all but it continues to ask me to come back to the same entries. No matter what I put in the box it won't let me continue

[KathrynG3]

To correct the wash sale import, follow these steps. 

...if you are in TurboTax Online, the way to adjust the error in TurboTax Online is to return to the original entry. There is no way to adjust the wash sale at the Review.

To return to the Investment Section, leave the Review by following these steps:

• Click Federal from the left menu.
• Scroll down to Stocks, Mutual Funds, Bonds, Other and Review.
• Click the Review button by the stocks that need correction. 
• Click the pencil icon next to the stock transaction at Review your sales.
• Continue through the next screens until you again are at Review your sales and reach Now we'll walk you through entering your sale details. Scroll down and check the box for I have more info to enter that I don't see here.
  • When testing this, I was able to enter amounts less than $1 in this area.

...if you are in TurboTax CD/Download, before correcting the Wash Sale, try using the "Capital g/l adj" page. instead. 

To find this form, follow these steps:

• From the Forms Mode, click Open Form.
• In the Search box, enter Capital gn.
• Under Form 1099-B Worksheet, select Capital gn(ls) adjustments/other info and Open Form.
• A new window will open: Step 1: Add Capital gn (ls) adjustments/other info. Scroll to find the sheet for Capital g/l adj and select Next and Finish.
• In Part III Specific Adjustments, scroll down and check the box next to Sale includes a disallowed wash sale loss (code W). Amount (leave blank if all)
  • Click on the box where an amount should be. Then, a + will occur to the left.
  • Click on the + Icon to open up the Description and Amount Worksheet and list your amounts here with the pennies.

[bttrainingyard]

Hello @KathrynG3 ,

I have a question about your method. 

In the example you have above, I see on form 1099-B Worksheet, you set the amount to $1.00, then in the form description, you listed the item and put the actual amount in for the disallowed wash sale.

My question is, are you suggesting add the $1.00 to all the amounts under $1.00, then in the description, list the actual amount for that particular item?

I was told my another Turbo Tax representative to leave the amounts less than $0 blank, but your method seems to error on the side of caution. 

I would appreciate further incite. 

Thanks

[bttrainingyard]

Hello

I have a question about your method. 

In the example you have above, I see on form 1099-B Worksheet, you set the amount to $1.00, then in the form description, you listed the item and put the actual amount in for the disallowed wash sale.

My question is, are you suggesting add the $1.00 to all the amounts under $1.00, then in the description, list the actual amount for that particular item?

I was told my another Turbo Tax representative to leave the amounts less than $0 blank, but your method seems to error on the side of caution. 

I would appreciate further incite. 

Thanks

[KathrynG3]

No; TurboTax CD/Download calculated the description page. While it posted as $1, the only actual entries were on the description page.

Yes, that is correct. You are allowed to leave the wash sale cell blank when the wash sale is under $1. 

If you prefer to report the transactions exactly as received, however, then my solution provides the steps to accomplish that mission. 

[bautekj]

I appreciate your detailed instructions which were very easy to follow.  However, when I get to the Part III to click on the box where an amount should be it doesn't do anything.  It does not create the "+" and allow me to enter a dollar amount.  I thought I had the form opened, but I'm confused.

[ReneeM7122]

If the form is not allowing you to enter information, try deleting it and beginning again.  There may be something on the back end that is causing the issue.

How do I view and delete forms in TurboTax Online?

• Open or continue your return in TurboTax.
• In the left menu, select Tax Tools and then Tools.
• In the pop-up window Tool Center, choose Delete a form.
• Select Delete next to 1099-B in the list and follow the instructions.

 How do I enter a wash sale on my 2020 return?

SOLVE

1. Open or continue your return in TurboTax and search for wash sales.
2. Select the Jump to link at the top of the search results.
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
4. On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
5. From here, you can import or manually enter your 1099-B.
6. Answer the questions about your sales. Choose to Enter sales one by one when asked.
7. On the Now, we'll enter one sale on your 1099-B screen, enter your info. Check I have other boxes on my 1099-B to enter and enter the disallowed wash sale loss in box 1g.
8. Select Continue and answer any follow-up questions.

Note: You'll need TurboTax Premier, TurboTax Live Premier, or TurboTax Self-Employed, TurboTax Live Self-Employed, to add any 1099-B forms.

@bautekj