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Turbotax won't let me include cents from 1099-b. What do I do?

I traded future options last year and have a profit of $299.50. When I fill out the information for box 11 from the contracts and straddles section it won't let me enter the cents (.50). I can only enter in $299. Do I round up, leave it as $299 or is there an issue?

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5 Replies

Turbotax won't let me include cents from 1099-b. What do I do?

You can round on all input into your tax return, unless you're adding something up, like a list of medical bills.

49 cents or less rounds down

50 cents or more rounds up

Turbotax won't let me include cents from 1099-b. What do I do?

I have a similar issue but for the correction, I need to enter $0.03 but it won't take it at all. How do I proceed? It doesn't make sense to round up to $1 and I cannot round down to 0.

DaveF1006
Expert Alumni

Turbotax won't let me include cents from 1099-b. What do I do?

At this point, I would not enter this at all or enter it as $1. This will not impact your tax return one way or another.

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Turbotax won't let me include cents from 1099-b. What do I do?

So, I tried to continue on but now that I am about to file, the system won't allow me to continue unless I enter some value. Every time I try to enter an alternate value (i.e. $1, $2, $100) it keeps reverting back to the same error with the original value in place.

 

I am not sure how to navigate this error. It is part of my Fidelity investments 1099-B forms for Disallowable Wash Sale Loss. 

MarilynG1
Expert Alumni

Turbotax won't let me include cents from 1099-b. What do I do?

@jaylew5025  If you imported the 1099-B, delete it and re-enter it manually, and do the rounding in your entries.

 

Click this link for info on How to Delete Imported Transactions.

 

You can enter a Summary in lieu of individual transactions if you have a large amount of transactions. 

 

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

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