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dh1069
New Member

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

The amounts were uploaded from TurboTax via TD Ameritrade. The amount of the disallowed wash sale is less than $1.00 which the TurboTax software is not accepting. I am unable to change the amount to $1.00 and TurboTax will not move past this section during the final review process. I also do not have the ability to remove this Trade information as it was uploaded automatically. Assistance is appreciated.
10 Replies
AnnetteB6
Employee Tax Expert

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

If you would be willing to share a diagnostic copy of your tax file, it could be helpful to examine the situation in more detail.  

 

To do so, follow the instructions below and post the token number along with which version of TurboTax you are using in a follow-up thread.

 

 

Use these steps if you are using TurboTax Online:

  • Sign in to your account and be sure you are in your tax return.
  • Select Tax Tools in the menu to the left.
  • Select Tools.
  • Select Share my file with agent.
  • A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
  • Post the token number here. 

If you are using a CD/downloaded version of TurboTax, use these steps:

  • Select Online at the top of the screen
  • Select Send Tax File to Agent.
  • Click OK.
  • Post the token number here.

 

 

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dh1069
New Member

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

@AnnetteB6 

Token#: 728010

russobx
Level 2

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

I have the same issue here.  Data downloaded from Vanguard. Wash sale loss disallowed was $0.27, no way to change.  Unable to leave it at "zero" and file.  Have Premier version.  Every time I hit "TRANSMIT", I'm returned to correct the "wash sale disallowed error"

GloriaL
Expert Alumni

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

To make adjustment to your wash sale:

  1. Open your return in TurboTax.
  2.  In the search box enter wash sales.
  3. Select the "Jump to" link.
  4. You will see all of your entries for your sales of stock.
  5. Click on Edit next to the one you need to change.
  6. In box 1g of your stock sale, you can make your change.
  7. Select Continue and answer any follow-up questions.
  8. Once you have made your change, it will be reflected under adjustment for that particular stock sale.

@russobx

russobx
Level 2

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

I tried the following advice.

"Open your return in TurboTax.  In the search box enter wash sales. Select the "Jump to" link. You will see all of your entries for your sales of stock. Click on Edit next to the one you need to change. In box 1g of your stock sale, you can make your change. Select Continue and answer any follow-up questions. Once you have made your change, it will be reflected under adjustment for that particular stock sale."

After entering amount for less than $1.00, selected "Continue" and followed up.  Tried to transmit once again and received the same message that I needed to correct the entry.  Seems like Turbo Tax will not accept an amount less than $1.00 and will not transmit a file with a line item that needs to have an entry.

What's next?

 

fanfare
Level 15

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

IRS has not opened yet.

And I hear TurboTax is working on a fix for one or more of these transaction import problems.

Try again in late Feb or early March.

russobx
Level 2

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

Would be nice if Turbo Tax spoke up and let us know.  Thanks!

skiop
Level 2

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

Last year, I could file electronically due to this. This year I have 6 transactions of under $1.00 capital gain/loss which will be downloaded from my financial institution. Is it that hard to fix? duh? 

LoganathanB
Level 7

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

You will have to go into TurboTax and round it off to $1 manually if it is greater than $0.49 and delete it if it is less than $0.49. Please do not enter 0.

 

To do this, you will need to revisit the input section for the Form 1099-B transactions

 

Use the following steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
  • This opens a box where you can type in “1099-B” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to 1099-B
  • Click on the blue “Jump to 1099-B” link
  • Click Edit beside the institution name
  • Click Edit beside each transaction that contains a wash sale adjustment amount of $0.99 or less
  • Delete the wash sale adjustment amount to either 1 or delete it and click Done

 

Please click on the link below for more information.

 

Rounding Off 1099-B

skiop
Level 2

How do I enter less than $1.00 in Wash Sale Loss section of Capital Gain/Loss worksheet? The data was pre-loaded by Turbo via TD Ameritrade, but is not accepting amount.

Just out of curiosity, why in the world does anyone have to modify the real data just so we can file electronically? 

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