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On my 1099-B, I have Wash Sale Loss Disallowed amounts under $1.00 but can't enter amounts in TurboTax - how do I enter decimal amounts in the worksheet to move forward?

When I try to enter my Wash Sale Loss Disallowed amounts in the 1099-B worksheet, the TurboTax website won't save them. It only saves whole numbers. It won't let me proceed until I input the correct WSLD amounts.
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1 Reply
rjs
Level 15
Level 15

On my 1099-B, I have Wash Sale Loss Disallowed amounts under $1.00 but can't enter amounts in TurboTax - how do I enter decimal amounts in the worksheet to move forward?

All amounts on a tax return are rounded to whole dollars. If the wash sale disallowed loss amount is 50 cents or more, round it up to $1 and enter $1. A disallowed wash sale loss of less than 50 cents gets rounded to zero, so there is no wash sale. You can't correct the problem in Smart Check where it displays the error message. You have to go back to where the sales were entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit each sale and delete the wash sale loss amount, leaving the box blank. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale.

 

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