The error messaging you are seeing with regard to the wash sale entries is a result of automatic rounding of the number imported from your broker or typed in by you. If the wash sale adjustment is $0.49 or less, then it is automatically rounded to zero. This type of rounding is allowed by the IRS. Unfortunately, zero is not a valid value for this field -- thus the error message.
To resolve the issue, you can edit each individual transaction and delete the amount entered in the wash sale adjustment if it is $0.49 or less. This will clear the error message.
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 $0.49 or less
- Delete the wash sale adjustment amount and click Done
Answer from AnnetteB6