The tax software and the downloaded numbers are not rounding in the same method and this is throwing off the worksheet. This is a known issue and a fix is in the works.
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I appreciate the responds. Spent an hour on the phone yesterday and was told I need to upgrade to Premier for assistance... Thank goodness I didn't.
I have the same error message too. How do I solve / correct this error so that I can submit my return for IRS asap?
Thanks,
Tep
Thank you, AmyC, for the brief good news that says "a fix is in the works". Do you think Turbo Tax will notify me and others who have the same suffering soon enough? I would love to finish my tax return asap.
Below is the message I repeatedly received (in the error looping) that prevented me to finish up the tax report and submit it electronically to the IRS.
Check This Entry
Form 1099-B Worksheet (TD Ameritrade Clearing, Inc.): 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
Sales Price 2,806.94
Form 1099-B Worksheet 2020
Keep for your records
Name(s) Shown on Return Social Security No
etc. etc.
I am having the same issue. How will we know whenever the problem is corrected?
Has this error been fixed?
Can my return be filed with the error?
Hi, Tom Malan. Right now I'm almost sure that the "error" will never be acknowledged by the TurboTax management, let alone fixing it. A good news is that we CAN submit our returns (without errors) by mail. For the next tax year let's move to the H&R Block.
Hello Amy,
Just checking in and see if you have any news on the estimated timeframe for the fix.
Thank you,
Hi sam98
Thank you for the good question.
But there are many good and great questions that have remained unanswered.
There is an additional capital gain/loss worksheet being generated that technical is working on.
Since the IRS will not start processing returns until 2/12 there is time to wait for the fix. Check a couple times a week ... Wed & Sat are good.
I am getting an error message in Smart Check about an adjustment cannot be zero - must be blank for all - and I can't correct the field. Won't let me clear it or change it. This is the only issue remaining (4 of the same message from an imported Acorns file).
Hi DeciduousTree
You won't have any of these issues if you choose the paper version. Don't ask me why, 'cause I don't know. I am a happy man now after my mailing of the paper form to the IRS a week ago. You can be happy too.
Next year let's not come back to Turbo Tax.
I am having the same issue this is what I am seeing:
Form 1099-B Worksheet(Robinhood Securities LLC): Holding Period must be selected because not enough information is present on the Capital Gain(Loss)Adjustment Worksheet to determine the holding period.
I cannot click the window to choose entry it will go to a page unresponsive.
There are only 930 line items on my 1099-B I am stuck on this window. I did try opening a different browser and have the same issue. I did delete the entire import and re-import it back still have the same issue.
You can delete the individual entries and just add a summary of each of the different sales categories. Your 1099-B should have those groupings. For example "Short-term covered" or "Long-term covered".
If you have non-covered sales, then TurboTax will prompt you to upload a pdf copy of the transactions.
Entering the summary of sales categories will eliminate the problem with some individual transactions giving error messages.
All of the transactions have already been reported to the IRS, except for non-covered that are not reported to the IRS.
The Net gain or Loss on my form does not match what is reported here , Will that be an issue?
Managed to figure this out with the help from TurboTax Support
The column: Wash Sale Loss Dissallowed must be added as "Adjustment" to match my Net Gain or Loss on the Form. All is good now.
How did you make that change? I keep getting the error "Holding period must be selected because not enough information is presented". I go back into my E-Trade stocks and try to edit within TurboTax there's isn't any option to select any holding periods.
TurboTax fix this bug!! Alot of my friends have been having this error and another one about wash sales. A couple of them were desperate to get their refund that they just went to H&R to have it done because they couldn't resolve this. These TurboTax bots aren't helpful either. Clearing cache or trying a different browser does NOT work.
It's year 2024 and looks like the error still haven't be fixed
You are posting on an old thread. We'd love to help you complete your tax return, but need more information. Can you please clarify your question? What sort of error message are you getting and where in the program?
Hello CatinaT1,
But a more generic issue is: How do I see the whole form (in this case worksheet) so that I know the context of this request and know how to fix it? It is impossible to even know what it is talking about without the whole form available to me
In the Online versions, you may view your tax return under Tax Tools, then Tools, then View Tax Summary, then Preview my 1040.
In the online versions, you may view or print at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets after you have paid for the software.
In the Desktop versions, one can look at the tax return by clicking FORMS, or by viewing the PDF through the Print Center.