1099-B numbers don't match

[sea0824]

I have a 1099-B from using Cash app for fraction shares of stocks. I'm trying to understand why the 1099-B for short term sales says total gain/loss was -1.57 when the proceeds (box 1d) was 79.07  and the cost (box 1e) was 81.44? 79.07-81.44=-2.35. 

The 1099-B for long term sales seems to be correct, box 1d is 12.92 and box 1e is 9.00 with gain/loss as 3.92.

Turbotax is saying total gain/loss is 1.55. No Matter which way you run the numbers 3.92-1.57 and 3.92-2.35 do not equal 1.55.

 Can someone explain to me why these numbers do not match up?  I'm assuming it just has to do with something I don't know about but I want to make sure my return won't be flagged for something that is less than $2.

[RobertB4444]

On your 1099-B there should be an amount for 'Wash Sale Loss DIsallowed'.  A Wash sale is when you sell something and lose money on the sale and then immediately repurchase something that is significantly the same as what you sold.  When buying and selling fractional shares that is the kind of thing that happens all of the time.  Losses on Wash sales are not tax deductible and are deducted on the 1099-B for that reason.

@sea0824 

[sea0824]

Under "Accrued Market Discount (M)(Box 1f) & Wash Sale Loss Disallowed (D)(Box 1g)" at the stock sale is it just shows .07D then immediately under .73 D. I put these values into turbotax and then it wanted more information," Accrued interest sch B". What do I put there? Do I put .80?

[gdubbz]

Are you unable to import the 1099-B into Turbotax? I've found that the import feature handles the entry of 1099-B information much more accurately than trying to do it manually - but also understand that not all of those forms can be imported, depending on the source.

[sea0824]

It won't let me upload it.  It is from cash app. They gave me a 1099 composite and a csv, which turbotax will not upload (will sit there waiting for it to upload for over an hr before I give up). Turbotax only has csv upload for cash app for some reason, so I have to enter everything manually. 

[gdubbz]

I see others have had issues with the import:

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-import-csv-file-from-cash-app-to-turbo-t... 

Might be worthwhile to contact customer service (referenced in the above link).

[sea0824]

I have the 1099-B, I don't need the csv since I did not buy or sell crypto. I only bought/sold fraction shares of stocks. I entered everything off the 1099-B, just need to know what it wants me to put for "Accrued interest sch B"

[RobertB4444]

In your example the accrued interest is zero and the wash sale loss is the 0.80 cents.

@sea0824 

[booshebach1]

BEWARE OF FLAW WHEN IMPORTING 1099S

When first importing 1099s and 1099Rs that were available initially from Fidelity, just  the 1099Rs were available so I entered those. When other 1099s were available (except one that was not avail until March 6) I entered those and was surprized my refund was so high considering amounts on 1099Rs. Great, right? I went back to import just the remaining 1099 on March 6 and nothing else since I did the other forms. WOW, a bigger refund, whats going on. When I looked at  what was on form 1040 I noticed way less dividends. When I reviewed the 1099s imported all were GONE so I reimported those. Now I checked again and noted the last one was gone as well as the 1099Rs I imported originally. Had to re-import everything all at the same time and spend an evening re calculating all income from govenment securites and state tax exempt income. What a pain. If you dont check for deleted 1099s after importing news ones you will be audited. What is going on...this is the Deluxe software on CD.