Solved: Turbo tax does not allow negative numbers in 1099-B box 1d

canuck97 · Feb 18, 2020 6:25:17 AM

etrade now reports losses of short options on 1099B as a negative number for proceeds in box 1d and a zero value for cost basis, rather than separate values for cost basis and proceeds that show a loss. Etrades explanation:"We are now updating our reporting of short options on the 1099-B to reflect how the IRS is now requesting that these transactions be reported. In this new format, the cost basis and proceeds for short options is consolidated into Box 1d in a net amount." This is rejected by turbo tax since it will not allow negative numbers in box 1d. Who is wrong etrade or turbox tax? Worse yet,turbo tax changes the negative number for a loss into a positive number for a reported gain, and it is drastically increasing the amount of taxes owed for me. How do I correct this? I have hundreds of trades and I don't want to enter all this data manually. Turbo Tax import from etrade should work, and whoever is wrong should fix their software and/or reporting.

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Turbo tax does not allow negative numbers in 1099-B box 1d

Did you just delete the proceeds and leave them blank? You do need to enter 0.00 as it expects a number.

Turbo tax does not allow negative numbers in 1099-B box 1d

I left the negative proceeds just as sent from Etrade and everything worked fine.

Turbo tax does not allow negative numbers in 1099-B box 1d

I've just finished my 2020 with turbo tax and info from E trade. I updated every revisit request and it appeared that the final profit or loss was correct. I transmitted to IRS only to see turbo tax had change all profits to loss and loss to profit. So this problem has not been corrected as of 05/04/2020.

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Turbo tax does not allow negative numbers in 1099-B box 1d

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Turbo tax does not allow negative numbers in 1099-B box 1d

Turbo tax does not allow negative numbers in 1099-B box 1d

Turbo tax does not allow negative numbers in 1099-B box 1d

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