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

[bmartin112]

@PatriciaV Do you expect a correction to be issued for this?  Running out of time.

[PatriciaV]

Thank you all for providing the diagnostic tax files (tokens). We will submit this information to tech support as soon as possible. We'll post any information we receive about a potential work-around or pending update.

@bmartin112

@BriGuy832

@nborrelli

@maytt

@platinumxsniper

@ngotronghieu

@tokinb

[mburckardt]

Also having this issue, my token number is: 975493

Seems to be caused by the same thing: I sold covered calls and would often buy-to-close them after reaching some profit% threshold. It seems my brokerage would report separate lines for the sell-to-open action and buy-to-close action. Hence, the buy-to-close action is always some negative proceeds amount, zero dollar cost basis, and negative profit/loss amount. To change the numbers filed would conflict with the reported values.

Brokerage was Apex Clearing (through the branded platform TastyWorks). Should be noted that Apex Clearing is used by a lot of platforms.

[careypilo]

same problem, still not updated 3/30/2022

[jkirktt57]

Any update on this issue?

Any idea if there will be a software fix or is Turbotax expecting us to modify the 1099B data we receive from our brokers?

[MAK551]

I'm having the same issue. Unable to file MA state return because of this issue, while Federal went through fine. 

[hpmart]

I'm having the same issue which block me filing MA state return. Can TurboTax simply bypass this checking? Thanks

[MAK551]

@PatriciaV any update on this issue? Still unable to bypass this error to submit MA state return.

[PatriciaV]

No update at this time (4/1/2022). Although something may be done sooner, as long as there is a work-around (swapping the proceeds and cost), it's unlikely that we will see a software change before the filing deadline.

[jkirktt57]

So if we want to file our taxes before the deadline Turbotax's position is we need to manipulate data on  the1099-B we received from our broker in order to make the Turbotax software work?  Since the 1099-B data is pulled from the Federal return that means we also need to modify our Federal return and anyone who has already filed there Federal return will need to amend it? Really?

[MAK551]

Folks, do not modify 1099-B data. I found a workaround. Instead of linking TT to your brokerage account for automatic download of transaction data, manually enter the 1099-B information at the AGGREGATE level (i.e., not for each trade). You will see 1099-B has a section that summarizes short-term and long-term proceeds, cost of basis, gain/loss information. You can enter this summary/aggregate level information and avoid dealing with negative proceeds issue. TT will ask you to upload your 1099-B form in PDF as a supporting document, and that's it.  After you manually entered 1099-B data, go back and delete the 1099-B that was pulled from your brokerage, in order to duplicate your gains/losses. Hope this helps! 

[BriGuy832]

Thanks for the tip @MAK551 .

What you provided makes sense, but the underlying issue of Intuit's software, which we all have paid for, does not work properly. None of us should have to figure out "workarounds" or "data manipulation" strategies in order to get the software to work, especially when an "update/patch/roll-out" (or whatever you want to call it) was made available last year when this same exact issue was present in the Federal product.

For me at least, I have multiple 1099-Bs, all of which I will need to total up to determine amounts to enter as the summary amounts. So now again, there is this manual intervention required by the paying user to basically force the Intuit software to work.

Makes no sense.

[BriGuy832]

@PatriciaV 

Please reach out to the development team and make them aware of this same EXACT issue that happened last year, but on the Federal side.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/what-does-this-mean-and-how-do-w...

The TurboTax software was saying that negative numbers were not allowed, and then boom magically on February 18th there was an update that allowed all the information to be submitted without the TurboTax software saying there were issues.

The resolution seems simple to me: Deploy whatever patch was used last year for the Federal side, to this year's MA state product.  You have the date of the update/patch, just find and copy that to the MA state return code. 

[s3trios64]

Same problem here w/ MA taxes, please patch today!   time is running out.  Beat your developers with a stick if you have to, a lot of folks risk having to extend or late file.  

[louboston27]

Token Number:  982839

Please help!  This issue occurred last year as well.  Not sure how to file unless this is resolved!!!