I sold investments in 2019 and had $1000.00 loss based on 2019 1099-B forms.
In 2020 I had no 1099-B.
In 2020 TurboTax premier, I get an error when running the federal check. When I look at Investment income, it shows 2019 loss and zero for 2020. When I click on "Update", there is a line containing no financial institution name and values of zero for Gross Proceeds and Gain/Loss. I also see it shows "YES" under needs info.
When I edit the line item, it shows "Untitled" and no gross proceeds.
Why did this occur and how should I resolve this. If I delete this entry then I am able to proceed. Is this the proper resolution ?
The form 1099-B that you entered in 2019 got carried over to 2020. This is common, as you often have investment sales from the same broker from year to year, so TurboTax carries over the 1099-B so you don't have to re-enter it each year. You should delete the form since you don't have any activity for it this year.
The form 1099-B that you entered in 2019 got carried over to 2020. This is common, as you often have investment sales from the same broker from year to year, so TurboTax carries over the 1099-B so you don't have to re-enter it each year. You should delete the form since you don't have any activity for it this year.