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henrydutch
Level 1

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

Error message says to enter amount disallowed under wash sales rules but amounts are less than $1.00 and are being rounded to 0.  I can't delete the "0" and I can't add the small amounts.
1 Best answer

Accepted Solutions
AnnetteB6
Employee Tax Expert

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

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

 

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29 Replies
AnnetteB6
Employee Tax Expert

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

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

 

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

View solution in original post

Waldimar
Level 2

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

That solved it for me... THANK YOU!

 

This is something that Intuit should FIX in the software, and not require a workaround by the end-user. This is clearly a bug.

THX1139
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

I've had the same problem on  MacOS. The suggestion of searching for 1099-B produces 32798 items - not really useful for locating "Jump to 1099-B." The first match for "Jump to 1099-B" tells me to search for "Jump to 1099-B." I did an "Open Form" on the 1099-B Wks and blanked out a $0.48 wash sale adjustment. Then I went to Part III of the Capital Gain (Loss) Adjustments Worksheet and discovered the checkbox for "Sale includes a disallowed wash" was no longer checked - and the error against the form was no longer pegged. I restored the X in the checkbox. Then re-ran Errors again - problem seems to be solved.

mycr0b3
Level 1

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

The proposed solution from AnnetteB6 worked for me, but was very tedious. My 1099-B had ~15 wash sale adjustment rounding errors of this type from a list of >100. Correlating the flagged errors (in forms mode), with the UI for fixing the error (in easy step mode) was a real pain.

 

Please fix this so I don't need to refer to this page next year!

Newk120
Level 2

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

This should be fixed it is a bug. Luckily I only had a couple to fix but there are a lot of wash sales that could turn up.

pantherstat
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

Also have this problem. Like finding a needle in a haystack....I have to search through 31 pages of Betterment transactions to find the lousy 0.01 cent wash sale. Still searching...

neilinpa
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

I cannot deal with this. I have 62 entries from Bettermint and Turbo Tax is taking over1 minute  per entries

raftingbuff
Returning Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

Thank you.  Definitely should have been an easy fix by Turbo Tax versus the tax payer.

joiseykid
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

I'm using a MacOS as well, however, I am unable to edit the main 1099-B worksheet or any of the individual sheets that have the wash error.  This is stopping me from being able to file my return.  This is maddening!

mcdmd
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

Same Problem with MAC OS. Unable to edit. Please help!

runnerxt2001
Level 1

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

I am also using MacOS and this was driving me crazy for days. I eventually found how to fix this. I am using the CD/Downloaded version of TurboTax Premier on my computer. On the top left corner of the program I clicked the "Forms" button (This button may say “Easy Step” if you are already in the “Forms” view mode. Once in the forms mode at the top center of the screen you will see an "Open Forms" button. Click that button. This brings up a window with a drop down menu on the left side from which it had selected Form 1040: Individual and on the right hand side is a search bar. I typed "1099-B" and selected "Form 1099-B Worksheet" from the search results and clicked "open".  I then had to select which form (since I have two different Brokerage accounts listed) you may not have to do this if you have only one. Then click open. This will bring up the 1099-B Worksheet. The worksheet will display on the right side of your screen and a file tree list with all the pages of this form will populate the left side of the screen. The worksheet page(s) with errors will have a red exclamation point next to them on the left side of the screen. I was unable to edit or make any changes to these forms here so this is what I did. Click on the page with an exclamation point next to it. (You can also click the red "error" button that looks like a stop sign with an exclamation point on the top middle of the TurboTax window and use the red arrows that appear on the bottom right of the window to scroll through the pages with errors). Make note of the transaction that caused the error including the security name, date, and amount. I used my smart phone to snap a quick picture of each page that had an error. Once you have made note of all the pages with errors click on the "easy step" button on the top left side of the TurboTax window. This will bring you to the easy step user interface where you can actually fix the problem. If it does not take you directly to a list of your stock transactions you will need to navigate to it this way. Located underneath the "Federal Taxes" tab you will want to select "Wages and Income" and select "I'll choose what I want to work on". Scroll down to the "Investment Income" section and beside "Stocks, Mutual Funds, Bonds, Other" click "Update”. This will bring up a list of the investment accounts TurboTax has so far. Click "Edit" next to the account you would like to fix the errors for. It will ask you if you need to confirm your financial institution info. I did not so I left the box unchecked and click "continue". This will now bring up a list of all your transactions. Here is the hard part. The sales with errors do not have red exclamation points next to them in this section so you have to scroll though the list and find them by matching the security name, date, and gross proceeds amount. When you find a match (or potential match) click "edit" next to the transaction you want to fix. This will bring you to the first page where is says "Tell us about you sale" and it will have info listed about the sale (description, date sold, date acquired, sale proceeds, cost and other basis). Do not change anything on this page. Click "Continue" in the bottom right. This will bring you to a page that asks if "Any of these less common items on your 1099-B" You will know you have found the correct transaction to fix if there is an amount $.49 or less in Box 1g "Wash sale loss disallowed".  Anything $.49 and under is supposed to be rounded down to zero. Change the value in box 1g to $0.00 and click done in the bottom right. You will be asked "Was this a sale of employee stock" Mine was not so I clicked "No" and then clicked "continue" in the bottom right. The next page asks you to "Select any less common adjustments that apply". I left everything unchecked and then I clicked "continue" in the bottom right. This brought me back to the list of all my stock transactions. I repeated this for each of the transactions that I needed to fix. I then clicked the "smart check" button located under the right corner of the "Federal Taxes" tab and the smart check found no errors and I was able to continue my return and file it successfully. I hope this helps.

 

Legal disclaimer

I am not a tax expert and the information provided here does not constitute tax, legal, or financial advice. It is simply the process I utilized to correct an error and is presented here so that it may help other individual’s trouble shoot similar errors. As such please consult a tax professional if you are unsure of your individual tax situation.

A-Hess30
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

I’ve tried going in and changing it, but it still rounds everything keeps bringing up the message. Is it a problem with the app? Will using a computer, rather than a phone make a difference? I’ve already paid and finished everything else and I don’t know what to do. 

Scotchplaid
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

Have MAC OS as well - followed your instructions- worked perfectly.  Turbo Tax really needs to fix this - there are a lot of folks out there that just don’t have the tech savvy knowledge to even know where to look.   Thank you for taking the time to figure this out. 

KENSDAVID
New Member

Error "accrued market discount should not be 0" on 1099-B worksheet. Data imported from broker. Amounts in 1g are less than 1.00$. Cannot efile. How do I fix this?

THANK YOU!!

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