I'm using TurboTax 2020 Deluxe from CD on my desktop. I had two stock sales last year. I entered sales price and cost basis in dollars and cents as my 1099-B shows. I've done it this way for years. When I run Smart Check, TurboTax says that I have an error. It says that the amounts entered in the 1099-B Worksheet do not match the values in Capital Gain Adjustment Worksheet.
When looking at the Forms View, I see that the Forms 1099-B Worksheet shows the dollars and cents. Schedule D shows only the dollars. I believe that TurboTax took this into account in prior years and rounded it for me. I can get around the Smart Check error by rounding the sale and cost amounts to the nearest dollar but I shouldn't have to do this. I'd prefer to enter the cents since I want my entry to match my 1099-B.
Is this an error that TurboTax plans on fixing and has anyone else encountered this error yet?
I have reported this issue to the Moderators as a possible bug in the software.
I am having the exact same issue. The 1099-B values are exact amounts and the Capital Gains (Loss) worksheet is rounded. TurboTax Premier 2020 is giving errors on each one (400 errors) stating the values do not match. The errors are reduced by manually matching the values.
I am also receiving this issue.
Check This Entry
Form 1099-B Worksheet: Sales Price does not match the value on the Capital Gain (Loss) Adjustment Worksheet.
Leave this value blank when using the Capital Gain (Loss) Adjustment Worksheet.
I have probably over 50 entries I have to correct to clear this.
I have this exact same issue, 233 instances found. This worksheet was created by Turbo tax by a direct import from the broker.
As of yesterday, there have been no updates to the software. Has the moderator acknowledged if this bug is being addressed?
@starbase1999 wrote:
As of yesterday, there have been no updates to the software. Has the moderator acknowledged if this bug is being addressed?
Yes, in fact the bug is tentatively scheduled to be fixed in the next update (sometime next week).
@JDPowerHammer wrote:
Has there been a specific date for this fix?
Not a this point. Hopefully, the next update (1/28/2021) will rectify the issue.
same here, i download 1099B form TD Ameritrade. 88 errors. waiting for the update. should not happen in the first place.
I have the same problem, using the online version, importing data from TD Ameritrade. I already paid to eFile federal and state returns, hoping the system would ignore the error, as it seemed to involve only the worksheet. But no luck. I am unable to eFile. I really don't want to manually fix this myself, or mail via postal service, since I am paying for ( already paid for) the automation.
If you read up, they are already aware of this issue. I recommend not filing or submitting anything until the issue is corrected. According to the moderator, the fix is scheduled to be live on 1/28/2021.
I am experiencing the same issue. This isn't okay, a bug in the production during tax season? This needs to be escalated and expedited.
The IRS recommends round up or rounding down to lessen the chance of arithmetic errors. Go back to where you made the entry in your return and roundup or down so that the two amounts are consistent in the 1099B worksheet and Schedule D. Please view this turbo tax link for more specific information.
The issue is that we did not manually make these entries in the return. The system automatically does this for us. I paid extra for the automation process. I'm supposed to modify my 200+ transactions and round them up or down myself? What's the point of paying extra if I have to do this manually.
This was not a problem for me in past years' using TurboTax. I have always imported my trading info, never had a problem of this nature. I am looking forward to the fix (this year:))
@Jherre wrote:
....I'm supposed to modify my 200+ transactions and round them up or down myself? What's the point of paying extra if I have to do this manually.
I would vociferously recommend waiting for the fix, which should be forthcoming.
@DaveF1006 if you import it is not possible to round until afterward. it's time consuming to do it manually since TT reports each trade separately when imported. why can't TT deal with type A and D transactions so they get reported as a total. The issue is with TT not the taxpayer.
I have this exact issue on my Premier desktop version on a Mac. I imported 600 1099-B entries from a cryptocurrency TXF file and they all fail Smart Check with the same error describe here about Sales Price not matching the Capital Gains Worksheet. Surprised that Turbo Tax has not fixed this yet even though more and more users complaining about same issue on different blogs that do not appear to be connected. How do we know that this will be fixed on next update? Is there someone authoritative on this blog that can assure us this is a known issue? I hear on line version also has same bug... How are people with cryptocurrency entries of thousands are going to do this manually?
Following... thought I was going crazy trying to get this resolved, thanks for the thread. Turbo Tax needs to fix this asap. Why pay for something when it does not work? I would not have paid to efile tonight if I could not efile tonight. Fail on Turbo Tax, and Fail on me for trusting the system to work as it should. I should not get an error for a few sales that are entered right, then spend way too much time (an hour) trying to troubleshoot what I could have done wrong. If they know about the bug, PUT UP A WARNING SO PEOPLE KNOW DURING PREP.
I fixed the issues regarding the errors on the capital gains worksheets.
It seems on the forms they are all-rounded to the nearest dollar. Turbo tax gives you the exact dollar amount. You just have to go in and readjust the dollar amounts to the nearest whole number and the issue will be fixed. Not that complicated for only a few stocks but someone that has a lot of entries it may take some time, I only had 4 entries
I just spent 30 minutes on the phone with customer service and they were not able to confirm when any sort of update will be made. They were not helpful in the least. This is very disappointing. You would think that TT staff would be viewing these boards in an effort to address ISSUES. Good grief.
Any other tricks you may have worked through? I tried rounded and unrounded, for only 5 transactions, and still seem to be getting the same error.
@Csj72 wrote:
....Not that complicated for only a few stocks but someone that has a lot of entries it may take some time, I only had 4 entries
Anyone with a lot of entries should wait for this issue to be fixed.
A lot of entries entails a lot of manual rounding which can result in errors adding up in the wrong direction causing matching issues.