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gcamachox3
Level 1

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

on my form it says 0.10 wash sale loss disallowed  and under accrued market discount its blank so how can i get pass this error? it wont let me write 0 and it wont let me write 0.10 either... i try to mail but without fixing the error it doesnt let me print the returns either
3 Best answer

Accepted Solutions
fanfare
Level 15

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

a disallowed loss of $0.19  is meaningless.

enter the transaction as a regular transaction with no adjustments.

View solution in original post

AnnetteB6
Employee Tax Expert

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

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 (although not from the screen in the review process) 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

 

If you have too many transactions that would require editing, you can consider deleting your imported information and entering a summary of the different categories of transactions reported on your Form 1099-B (short-term covered, short-term not covered, long-term covered, long-term not covered).  This would require you to mail a copy (not the original) of your Form 1099-B from your brokerage to the IRS within three days of filing your return.  The Form 1099-B would be attached to Form 8453, which will print with your return.  

 

@dag777

@gcamachox3

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View solution in original post

jessq
New Member

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

I put the 1099B transaction 0.08 wash sale as regular transaction. Do not put Wash sale loss value. Left box 1g blank. It fixed the error

View solution in original post

11 Replies
andydupont
New Member

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

 I have this exact same issue. He has an answer been given?

MarilynG1
Employee Tax Expert

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

If the amount is less than $.50, try leaving the field blank.  If over $.50, round up to 1.

 

Click this link for info on How to Enter a Wash Sale

 

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
gcamachox3
Level 1

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

I did try that it didn’t work. 

gcamachox3
Level 1

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

It’s 0.10 and it doesn’t let me add  few cents it’ only lets me writes $1 but even when I wrote that it wasn’t fixing the error 

fanfare
Level 15

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

a disallowed loss of $0.19  is meaningless.

enter the transaction as a regular transaction with no adjustments.

dag777
Level 2

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

Same problem error, blank, $0 or $1 doesn't fix the problem. Cents are not allowed. TT has a bug because it rounds up to the nearest numbers, and in some cases, it does create a small discrepancy, which throws TT into an endless loop.

AnnetteB6
Employee Tax Expert

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

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 (although not from the screen in the review process) 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

 

If you have too many transactions that would require editing, you can consider deleting your imported information and entering a summary of the different categories of transactions reported on your Form 1099-B (short-term covered, short-term not covered, long-term covered, long-term not covered).  This would require you to mail a copy (not the original) of your Form 1099-B from your brokerage to the IRS within three days of filing your return.  The Form 1099-B would be attached to Form 8453, which will print with your return.  

 

@dag777

@gcamachox3

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dgaffney1988
New Member

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

lol holy **bleep** it takes a minute to edit each of these and I have hundreds

 2c266252bd25deecaf8224f0791510af.jpg

jessq
New Member

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

I put the 1099B transaction 0.08 wash sale as regular transaction. Do not put Wash sale loss value. Left box 1g blank. It fixed the error

hp_001
Returning Member

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

If you say you support Robinhood and you charge customers - $185, maybe you should provide proper support? Why we have to struggle with this?

gcamachox3
Level 1

Error: accrued market discount should not be 0. enter amount disallowed under wash sale rules, or leave blank if entire is disallowed, on my form it says 0.10 disallowed

I had to edit it manually. 

someone said a few cents off a wash sale don’t really make a difference so try to remove that. 

is tedious if you have a lot of trades. Took me a good couple of hours 

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