Wash Sales

[HenryGRuger]

The review section insists that I enter the amount Disallowed on Wash Sales, from my 1099-B.  The blank in which you are to enter the numbers has a ZERO (0) in it. It does not allow you to enter the correct numbers.

What am I suppose to do to correct it?

[jeaninef]

I have the same problem.  The software downloaded the information correctly from my broker with 5 items with less than $1 disallowed wash sale loss.  The form 1099B worksheet captures the correct amount of less than a dollar in part I but doesn't accept the zero (less than one dollar) in part III.  These 5 worksheets continue to show as an error and then the software won't allow me to submit the tax return for transmission.

[rjs]

You can't correct the problem in Smart Check. You have to go back to where the sales were entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit each sale and delete the wash sale loss amount. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale.

This is only a problem with disallowed loss amounts of less than 50 cents. If it's 50 cents or more, leave it. It will get rounded to $1.

[HenryGRuger]

"You can't correct the problem in Smart Check. You have to go back to where the sales were entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit each sale and delete the wash sale loss amount. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale."

This is NOT the issue. I had three wash sales that total @$75.00.   Therefore, so your comment, "...since the wash sales is less that 50 cents." has no bearing on my problem,.

The "problem"is the software, refusing to allow the correct amounts to be entered into the spaces in which they belong.

I ask again...WHAT IS THE PHONE NUMBER TO GET A TURBO TAX PERSON ON THE PHONE?

[rjs]

@HenryGRuger  Sorry, I was replying to jeaninef, not to you. I didn't notice that it was two different people posting.

You could try deleting the three sales and entering them again. If any one sale has a disallowed loss amount less than 50 cents, don't enter that amount.

To call TurboTax support, go to the following link to get a phone number to call, during the hours that support is open. The current hours are 5:00 a.m. - 9:00 p.m. Pacific time, 7 days a week.

Contact us

At that link, select your product from the list, enter a brief description of the problem, click Continue, and follow the instructions on the screen to get a phone number to call.