Error: Gross Sales Price shouldn't be less than zero

[ACCurtis]

Previous replies have said anything I could say. I'm not going to bother filing a trouble report, getting a token, etc. I have been a TurboTax user since 1997, and had NO problems until last year (2020 tax year) when I hit this problem. As others have reported, I went through the same process seeking resolution and finally wound up with one of the =fee for service= tax experts, who handled it for free because no-one else could figure out what was going on!  The 'resolution' was to do as mentioned elsewhere: modify the data in the Capital Gains / Losses Worksheet.  I had to go ahead and file before the aforementioned patch came out, and really didn't expect the issue to crop up again.

I am EXTREMELY upset with TurboTax!!

As others have said, we are perilously close to the filing deadline, and there is no excuse for not fixing a problem that has been reported by MANY people for at least two years!!!

[jkirktt57]

Can I get an official response from Intuit stating that it has recommended that we alter the contents of our 1099-B in order to file our Massachusetts State Tax return and get around a bug in the Turbotax Massachusetts software. If this is Intuit's recommendation put it in writing. 

[zdingtax2022]

Please help to review my error

I also getting stuck in MA return with Gross sales price shouldnt be less than 0

Token #: 983695

[benyign_13]

Hello,

I have the same issue and not sure how to fix it. I have paid 150$ to Turbo tax. 

Any plan to fix this in the application?

Should be ok if I flip proceeds and cost?

Best,

Benjamin

[justaguydointaxes]

I have also already paid Turbotax only to find out that I can't efile my Massachusetts return.

It's unbelievable that their official stance has been to tell people "the IRS no longer allows negative numbers in the proceeds column" which is completely false and can be EASILY debunked by checking the IRS website. For MA residents, we need to record every trade, and altering information on our 1099-B so that it differs from what was reported by the broker is a surefire way to trigger an audit. PLEASE PLEASE PLEASE fix this or I swear to god I'm never using this software again.

[mkadawala]

My token is 984079. Having the issue with MA tax filing

[jkirktt57]

Any update. It is now April 5th and I need to file. Are you confident there will be no software change for this bug prior to the filing date.

[BriGuy832]

@justaguydointaxes It really is unbelievable the advice that "Experts" on here are giving. Not sure (I think so though) if these are employees of Intuit/TurboTax, but you can even see from the varied responses ("Change from a negative amount to positive", "IRS doesn't allow negatives", "Enter as a summary page instead of individual entries"), that all they are doing is putting band-aids on the problem. When the permanent and actual fix is already known to them (in the form of last year's patch for the Federal return).  But for whatever reason, the company is refusing to implement it.

[jkirktt57]

I just tried your workaround and I got an error.

I had this initially.

Proceeds   -135.39

Cost                        0

When I swapped the amounts like the following I got an error that cost could not be less than 0 

Proceeds               0

Cost               -135.39

I had to remove the negative sign on the cost and it worked so is the workaround swap the Proceeds and the Cost and remove the negative sign on the cost like this?

Proceeds               0

Cost               135.39

Please clarify your workaround.

[BriGuy832]

@jkirktt57 

The third example is how it should read. That would reflect your Cost basis that is then worth 0, implying a loss, which is the same as a negative number for proceeds.  I don't know how many of those entries you have, but I have 86, and there is no way I will be manually changing all of those after paying money for a service that should do it for me.  

However, this is a perfect example as to why us, as end-users should not be making these changes. We are not tax professionals, and the software needs to be what takes care of this for us- that's what we are paying for after all, isn't it? By us trying to decipher the way it should be, that is adding tons of potential for errors, issues, and possible audits.  

[SgtofMarines]

I am having the same issue with my MA return...please assist.

My token is: 986521

Is this ever going to get fixed?  My Federal return checked out successful with the same exact form as this troubled one.

Thanks

[careypilo]

I proceeded as above in the third example and was able to get my MA return accepted.  It's bad form on the part of TT that anyone who a) has traded options and b) needs to file a massachusetts return cannot file without overriding the appropriate data.   The fix is mathematically correct but not really how the trades work, which is why the brokerages report them as they do.  This got it done for me this year, but requiring customers to edit or override correctly reported data is really bad form, and anyone who meets the above criteria will probably not use TT in the future.

[BriGuy832]

I was contacted outside of here by Intuit and apparently this issue is being investigated. There is the potential that a patch will be released prior to the filing deadline, but there is no guarantee it will be done by then, if at all.  Just some info for those waiting on a potential fix.  

[bmartin112]

I went with @MAK551 's advice and loaded the aggregate 1099-B data. 

Question... does anyone know...  Do I now have to mail in a printed copy of my 1099-B to the IRS?  

[s3trios64]

Keep a copy for yourself and include a copy with other required forms in your filing.