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Level 2
posted Jan 25, 2024 12:50:53 PM

Why does TT give an error message about 1202 exclusion percentage? My 1099-DIV has $0.00 in Box 2c. So there is nothing to exclude, yet there' no option to disregard.

After downloading my 1099-DIV from Vanguard, TT error indicated "We found something wrong with your return."  There were choices for 50%, 60%, 75% or 100%.  How do you fix this so there's no error?

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1 Best answer
Level 2
Jan 25, 2024 4:48:29 PM

I did this several times to no avail.  I found in another post the suggestion to leave boxes blank in TT that had  zero on the 1099-DIV.  That solved it.  It's seemingly something that TT ought to fix.  If a box has $0.00 on the 1099=DIV, clearly the exclusion percentage does not apply.

4 Replies
Expert Alumni
Jan 25, 2024 2:28:54 PM

In this case, it's possible that the download failed by inserting some gibberish here and there.

 

To fix this, 

1. get a printed copy of the 1099-DIV (or copy it out by hand), 

2. then delete the 1099-DIV in TurboTax (look for "Delete" or the trash can icon), 

3. then re-enter the 1099-DIV by hand.

 

This will almost certainly fix your situation faster than trying to figure out what happened in the download.

Level 2
Jan 25, 2024 4:48:29 PM

I did this several times to no avail.  I found in another post the suggestion to leave boxes blank in TT that had  zero on the 1099-DIV.  That solved it.  It's seemingly something that TT ought to fix.  If a box has $0.00 on the 1099=DIV, clearly the exclusion percentage does not apply.

Level 2
Feb 10, 2024 7:24:50 AM

I have the same error message and entered in the information by hand as suggested.  This still gave an error message.   I also tried entering in 0.00 and the error persisted.  I selected 'none of the above' when it came to resolving the error message and it takes me back to the original error message.  Going round and round in circles.

Expert Alumni
Feb 12, 2024 8:50:56 AM

The box should be blank to avoid the issue. 

@Mango-muncher