See message received below from turbo tax after federal return rejected.
Subject: CRITICAL NOTICE: Issue with your 2020 tax return Dear valued TurboTax customer, We identified an issue with your 1099-B entries that resulted in your 2020 tax return being rejected by the IRS. The information on your return is likely accurate. The issue pertains to negative proceeds values on one or more of your stock sales. While the negative proceeds values are likely accurate, the IRS changed their approach and currently does not accept e-file submissions of any negative proceeds values. We are partnering with the IRS and expect them to update their rules later in the season. In order to resolve this and refile your return, there are three different options you can take. We have outlined detailed instructions for each,here: https://support.turbotax.intuit.com/redirect/1099-B-negative-value You will need to mail-in or resubmit your e-filed return before the filing deadline on April 15, 2021. We are here to help. If you have additional questions or would like to speak with one of our experts at any point during this process, please call us at [phone number removed] and mention "1099-B Negative Value Issue." We're open every day from 5am-9pm PT. As always, thank you for being a valued TurboTax customer. Sincerely, TurboTax Care Team
