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
a disallowed loss of $0.19 is meaningless.
enter the transaction as a regular transaction with no adjustments.
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:
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.
I have this exact same issue. He has an answer been given?
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.
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
a disallowed loss of $0.19 is meaningless.
enter the transaction as a regular transaction with no adjustments.
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.
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:
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.
lol holy **bleep** it takes a minute to edit each of these and I have hundreds
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
If you say you support Robinhood and you charge customers - $185, maybe you should provide proper support? Why we have to struggle with this?