I spoke yesterday for 1hour and 35 minutes by phone with a very nice lady with the TurboTax helpline about this issue. She tried to reach several people within the Intuit organization. She got, in the beginning, the same information from somebody in the department that since 2020 no negative amounts in the purchase box were allowed and that you should contact your brokerage to ask for a corrected 1099. I mentioned "the 2020instructions for 1099-B" from the IRS website, which is the guide brokerages use to prepare the 1099-B, where it clearly states that a loss should be reported as a negative amount in the proceeds box and that, therefore, there is no way the brokerages will provide a 1099-B according to the TurboTax rules. Then, someone there informed her that you have to upgrade to TurboTax Premier. She agreed with me, that this is very unlikely to work: The Deluxe version telling you that it is wrong, while the Premier version tells you that it is OK. Ultimately, somebody messaged her that an investigation was being done on this issue and provided her with the Investigation Number. No timeline was provided. The lady agreed with me that it might move much faster in the pipeline if the brokerages would contact Intuit about this. So, it would help if more people call their brokerage to complain about the fact that TurboTax claims the data on the 1099-B is wrong.
I was promised that I will get an e-mail as soon as the issue is solved.
