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Level 1
posted Feb 1, 2021 11:00:14 AM

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

2 11 3500
3 Best answers
Level 15
Feb 5, 2021 9:10:47 PM

a disallowed loss of $0.19  is meaningless.

enter the transaction as a regular transaction with no adjustments.

Expert Alumni
Feb 10, 2021 12:03:39 PM

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

New Member
Feb 19, 2021 12:05:40 AM

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

11 Replies
New Member
Feb 3, 2021 10:35:37 AM

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

Expert Alumni
Feb 5, 2021 6:24:30 PM

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

 

 

Level 1
Feb 5, 2021 6:39:50 PM

I did try that it didn’t work. 

Level 1
Feb 5, 2021 6:40:38 PM

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 

Level 15
Feb 5, 2021 9:10:47 PM

a disallowed loss of $0.19  is meaningless.

enter the transaction as a regular transaction with no adjustments.

Level 2
Feb 10, 2021 6:46:25 AM

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.

Expert Alumni
Feb 10, 2021 12:03:39 PM

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

New Member
Feb 16, 2021 4:04:44 PM

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

 

New Member
Feb 19, 2021 12:05:40 AM

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

Returning Member
Feb 24, 2021 6:47:15 PM

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

Level 1
Feb 24, 2021 7:06:09 PM

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