You are correct, there is a workaround needed to get past the washed sale error in 1099-B.
Washed sales get rounded down to $0 when the value is .49 cents or less. This type of rounding is allowed by the IRS but unfortunately, zero is not a valid value for this field, and it produces an error message. This might help with this error. Here are the steps to try:
You can edit each individual transaction and delete the amount entered in the wash sale adjustment if it is $0.49 or less. This should clear the error message.
To do this, you will need to revisit the input section for the Form 1099-B transactions. Use the following steps:
- On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
- This opens a box where you can type in “1099-B” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
- The search results will give you an option to “Jump to 1099-B”
- Click on the blue “Jump to 1099-B” link
- Click Edit beside the institution name
- Click Edit beside each transaction that contains a wash sale adjustment amount of $0.49 or less
- Delete the wash sale adjustment amount and click Done
@cmakuch
