The error messaging you are seeing is a result of automatic rounding of the number imported from your broker or typed in by you. If the transaction is $0.49 or less, then it is automatically rounded to zero. This type of rounding is allowed by the IRS. Unfortunately, zero is not a valid value for this field -- thus the error message.
To resolve the issue, you can edit each individual transaction and delete the amount it is $0.49 or less. This will 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
the IRS has provided clear language that instructs us to round up when the amount is 50 cents and over, and down when it's 49 cents and lower. It isn't considered fudging because this is the way they want it done.
Rounding
Here is the guidance from the IRS: https://www.irs.gov/publications/p17/ch01.html
Computations
The following information may be useful in making the return easier to complete.
Rounding off dollars.
You can round off cents to whole dollars on your return and schedules. If you do round to whole dollars, you must round all amounts. To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3.
If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round off only the total.
@ngozman
