Every 1099-B entry imported from ETrade shows up incorrectly with Adjustment Code N

[terpsucka]

I imported my consolidated 1099 from ETrade, and every sale is incorrectly coming up with Adjustment Code N.  "Smart Check" fails, because Adjustment Code N requires an adjustment amount, which, of course, there is none. It will neither let me remove the adjustment code-- it just sets it back when I clear the textfield-- nor will it let me set the adjustment value to 0, so I'm stuck.  There are hundreds of lines in this 1099. Any suggestions?

[splozano]

I'm having the exact same issue. Hoping to get an answer for this. 

[johnsat4441]

I am having the same problem. It is with Etrade accounts too. I have spent the last three hours trying to figure it out before checking in here. every transaction has it.  At least  now I know it isn't me. 

[terpsucka]

In digging around I discovered that the 1099 is coming from ETrade with that N adjustment code. So it's an ETrade issue and a TurboTax issue-- ETrade because they're sending bum data, and TurboTax because there's no way to manually fix it.

[DianeW777]

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: 

TurboTax Online:

Go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.  

TurboTax CD/Download:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

1. Click on Online in the top left menu of TurboTax CD/Download for Windows
2. Select 'Send Tax File to Agent'
3. Write down or send an image of your token number and state then place in this issue.
4. We can then review your exact scenario for a solution.
5. Please also tell us any states included in the return. This is necessary for us to view the return.

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution. 

@terpsucka 

[terpsucka]

I didn't want to wait around for this issue to be resolved, so I just went ahead and deleted the imported version of that 1099, then created one manually, and used the "group totals" method, copied from the paper 1099-B form that I have on hand.  That's only 4 entries; not a huge deal.  I wasted a ton of time trying to figure it out though!

[splozano]

1185251; texas

[Ra1dersRx]

1185348 california

[wonki]

I have same issue, there are 2 1099 files from Etrade this year, digging deeper, all those errors are coming from transactions in the second 1099 file which covers Septermber to December.

[wiss77]

Issue is N cannot be deleted.

The washsales W can not be inserted.

The Adjustment of RSUs and ESPPs code B can not be inserted.

Called Turbotax and they are absolutely clueless! its a bug obviously on the desktop version. 

[DWlassie]

Same here and judging by the number of incorrect codes, it looks related to the Morgan Stanley conversion. I can manually edit  the amounts to $0 but the codes will be wrong. 

[annieland]

I swear, every year there is a bug with RSU/ESPP adjustments in TT that takes them 3 weeks to fix after telling everyone we're just doing it wrong.  At least now I know I didn't waste all of Saturday because I'm the idiot.  Every year I get used to the cost basis adjustment flow and every year they change it again making it more and more obnoxious.  It's a total mess on the Mac desktop version right now.  Perhaps an update in due time will rectify this...

[annieland]

@wonki You're right, the imported 1099-B's on my end are slightly different , the former with B codes and the latter BN.  But both respective Capital Asset Sales worksheets throw red ! errors anyway.  Adjustment amounts show up in some boxes and not others.  I've deleted and re-imported 3 times so far and no amount of meticulous entry helps, so yeah, something is buggy.  Hopefully it's not on E*Trade's side where TT won't be able to fix it.

[f4tq]

I havean E*Trade/MS 1099 reflecting RSU sales but some of them have no cost basis -- i.e. it's blank not 0.

In prior years, I've had to go in to insert that but there is no edit feature this year.  In fact, the display seems clipped which makes it look like a bug.  Is it?

The code in  my case is E.

The E*Trade site has a tax supplement which correctly shows my basis but there is no way to input it.

Should I switch to the 'Form' view and insert it?

Sure seems like a TT bug...

-Chris

[wiss77]

so for ESPP and RSUs cost basis is 0 and then you say I have the correct cost basis and you insert it there (not in the original cost basis).

for codes:

you would put W for Wash sales

B for adjusted cost basis such RSUs and ESPPs

N is for  nominee for the actual owner.

The main issue is that TT is importing everything as N (wrong) and you cant adjust and change anything. Even if you put 0s, having code N tells IRS you are the nominee on these stocks which is wrong.