topic Re: Error message for 1099B Worksheet in Get your taxes done using TurboTax

Error message for 1099B Worksheet

smileyst — Sun, 24 Jan 2021 23:11:58 GMT

For all 3 of my 1099B entries, TT says "Cost or Adjusted Basis (Positive Amounts Only) does not match the value on the Capital Gain (Loss) Adjustment Worksheet. Leave this value blank when using the Capital Gain (Loss) Adjustment Worksheet." I get an analogous error message for all my "Sale Price" entries. First, the values absolutely do match. Second, if I leave them blank as the TT error directs me to, then I receive a new set of errors telling me to fill them in. Please advise...

Re: Error message for 1099B Worksheet

rjs — Sun, 24 Jan 2021 23:21:05 GMT

This is a known bug, and is tentatively expected to be fixed by the end of next week (January 29).

Re: Error message for 1099B Worksheet

DavidD66 — Sun, 24 Jan 2021 23:37:03 GMT

As noted by rjs, this is a known issue and is currently being investigated. If you imported your 1099-B entries and don't want to wait for the investigation to be resolved, you can manually enter your transactions. Are you importing your Form 1099-B from TD Ameritrade?

Re: Error message for 1099B Worksheet

smileyst — Sun, 24 Jan 2021 23:47:42 GMT

Thanks David. I'm new here. Not sure how to locate rjs's comment. It's a Fidelity trade. I entered the values myself. I'm stymied.

Re: Error message for 1099B Worksheet

DavidD66 — Mon, 25 Jan 2021 00:07:18 GMT

Are you using TurboTax Online or Desktop?

Re: Error message for 1099B Worksheet

smileyst — Mon, 25 Jan 2021 00:16:48 GMT

I'm using the Desktop version of Home and Business on a Mac.

Re: Error message for 1099B Worksheet

smileyst — Mon, 25 Jan 2021 00:18:33 GMT

Thanks rjs! Not sure why but I could not see your reply earlier. I hope you're right. Very frustrating!

Re: Error message for 1099B Worksheet

DavidD66 — Mon, 25 Jan 2021 00:38:01 GMT

@smileyst It's hard to troubleshoot an issue like yours in the public forum. You may want to contact customer service where you can speak with someone live and discuss your issue. To do so, see this TurboTax support FAQ on how to contact Support - https://ttlc.intuit.com/questions/3401489

You can also try deleting your Form 8995 and the Capital Gain (Loss) Adjustment Worksheet and re-entering. To do so, switch to Forms Mode, open your return, and then select the Forms icon in the upper-left corner of TurboTax (or select View from the top menu, then Go to Forms). The Federal Information Worksheet will display and all the forms in your return will be listed on the left side. Click on "Open Form" and enter "Capital Gain (Loss) Adjustment Worksheet" to display the worksheet. Then select the "Delete Form" button and delete both forms.

Also, keep in mind, the IRS will not start accepting e-filed returns until February 12. Even if you complete your return now, and transmit it, it will sit on the TurboTax server until the IRS starts accepting returns. So, you've got some time to figure this out, or wait for TurboTax to figure it out if the issue is on our end.

Re: Error message for 1099B Worksheet

smileyst — Mon, 25 Jan 2021 20:03:12 GMT

Thanks. In the Forms section, I found the Form 1099-B Wks and 3 sub-forms, one for each category of trade (reported/not reported, short/long). I deleted those sub-forms. That did not seem to erase the data in the Form 1099-B Wks and it made the error message disappear.

Re: Error message for 1099B Worksheet

floatplan — Wed, 27 Jan 2021 05:02:13 GMT

I found that if I rounded my amounts to the nearest dollar the error disappeared.

I have a Similar Problem; Please Help - Re: Error message for 1099B Worksheet

de_prof2003 — Sun, 14 Feb 2021 14:10:08 GMT

Hello Dave,

I have a similar problem. I really hope there is a way to solve it without me having to manually fill out an 8995 by hand. I have a multitude of trades to report, and after all, I am paying TT to avoid having to perform such a chore.

My problem involves a single wash sale. The prompt I received from TT online wants me check my broker's 1099-B to validate the amount disqualified and to enter the correct amount because they say that the amount shown is zero. Well, the disqualified amount was literally one penny (0.01) and Turbo Taxes computers round all amounts, so, apparently, it comes up as a disqualified amount of zero. A disqualified amount of zero cannot be correct because one cannot disqualify a non-existent dollar amount, so they want me to add a "correct" amount. If I try to enter 0.01 or .01, such entries are not accepted. In effect, the TT online worksheet provided to me refuses to allow me to add the correct amount. So what can be done about this situation?

Re: I have a Similar Problem; Please Help - Re: Error message for 1099B Worksheet

KathrynG3 — Wed, 17 Feb 2021 19:28:06 GMT

Have you only tried to adjust it in the Check this Entry section? Try leaving this area and returning to the original entry area to make the adjustment.

To return to the Investment Section, leave the Review by following these steps:

Click Federal from the left menu.
Scroll down to Stocks, Mutual Funds, Bonds, Other and Review.
Click the Review button by the stocks that need correction.
Click the pencil icon next to the stock transaction at Review your sales.
Continue through the next screens until you again are at Review your sales and reach Now we'll walk you through entering your sale details. Scroll down and check the box for I have more info to enter that I don't see here. if it is not already checked.
- When testing this, I was able to enter amounts less than $1 in this area.

@de_prof2003

Re: I have a Similar Problem; Please Help - Re: Error message for 1099B Worksheet

rjs — Wed, 17 Feb 2021 19:46:23 GMT

@de_prof2003 The problem with a disallowed wash sale amount less than 50 cents is a known problem, and has been reported to TurboTax. But you can easily work around it. However, you can't correct the problem in Smart Check, where you get the error. You have to go back to where the sale was entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. KathrynG3 gave you step-by-step instructions to get there. Edit the sale and delete the wash sale loss amount. Don't enter anything. Just leave the box empty. In other words, since the wash sale loss is less than 50 cents, and would get rounded to zero anyway, you don't report it as a wash sale.

Re: Error message for 1099B Worksheet

mhuizar — Sun, 28 Mar 2021 20:41:18 GMT

Has this bug been resolved?

Re: Error message for 1099B Worksheet

rjs — Tue, 30 Mar 2021 02:58:07 GMT

@mhuizar Yes, the bug described above has been resolved.

Re: Error message for 1099B Worksheet

onemoment — Mon, 05 Apr 2021 02:42:36 GMT

It is April 04, 2021. I am using Turbotax and got the same error. I already rounded the cost to be not have a decimal number, but still seeing the same error. The TurboTax was updated. How to bypass this error now? thanks

Re: Error message for 1099B Worksheet

ReneeM7122 — Mon, 05 Apr 2021 22:46:19 GMT

You might have to delete the form and start again. Here's how:

How do I view and delete forms in TurboTax Online?

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

You can then jump straight to the section for your specific 1099 form. Here's how:

Sign in to TurboTax and open or continue your return.
Search for 1099-B and select the Jump to link in the search results.
Follow the screens and you’ll be able to import your form.

Tip: Be sure to select the right financial institution or brokerage from the list. For example, several participating partners' names start with First National Bank and if you select the wrong First National Bank, you won't be able to import.

You can import up to 1,500 transactions from your financial institution in TurboTax Online.

Go here to see how to take a picture of your 1099-MISC in the mobile app.

Here is a TurboTax article about 1099-B, Proceeds from Broker transactions.

Re: Error message for 1099B Worksheet

onemoment — Thu, 08 Apr 2021 03:21:02 GMT

Thanks. I deleted and reentered the data for RSU stock sales. However, it shows a category of box E: long term sales with cost basis NOT reported to the IRS. When click on Edit, it returned to the previous screen. I already entered the RSU costs the same as on the previous year's W2 report and everything was reported to IRS. Any reason why I am seeing this message? thanks

btw, now when I run the smart check, the previous error is gone.

Re: Error message for 1099B Worksheet

ReneeM7122 — Thu, 08 Apr 2021 21:20:10 GMT

@onemoment Please clafiy: did you record the cost basis of the stock on form 1099B? It sounds like the software isn't picking that up, and could be telling you that you've got to pay taxes on the whole sale.

Re: Error message for 1099B Worksheet

onemoment — Fri, 09 Apr 2021 02:15:14 GMT

@ReneeM7122 . I already entered the costs for each sales to the software and on the summary page. It shows this message with the total gain/loss.

It shows:

Category = box E

Description: Long term sales with cost basis not report to IRS.

Total G/L amount

If click on edit, it brings me back to the previous page of each sales. The smart check all passed. I am not sure why seeing this message.