When trying to file my 1099-B I run into issues with the "sale includes a disallowed wash sale loss (code W). When I enter number it does not keep the number and save it

[tcco94]

Any number I put whether its 0 or 170 (which is what my 1099-B shows) it does not keep it, I click continue then it pops up again. I enter again. Then says "issues with e-file, do paper taxes"? How is this possible? There seems to be something wrong with the program not keeping the number and saving it, preventing me from filing.

[JohnB5677 · Accepted solution]

The error message you are seeing on the wash sale entries is a result of automatic rounding.  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 for TurboTax, thus the error message.

To enter a disallowed Wash sale:

Income & Expenses

1. Scroll to Stocks, Mutual Funds, Bonds, Other
2. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
3. On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
4. From here, you can import or manually enter your 1099-B.
5. Answer the questions about your sales. Choose to Enter sales one by one when asked.
6. On the Now, we'll enter one sale on your 1099-B screen, enter your info.
7. Check I have other boxes on my 1099-B to enter and enter the disallowed wash sale loss in box 1g.
8. Select Continue and answer any follow-up questions.

Note: You'll need TurboTax Premier, TurboTax Live Premier, or TurboTax Self-Employed, TurboTax Live Self-Employed, to add any 1099-B forms.

[Sacrasan]

So just ignore the error message? 

[tcco94]

Did you read the post? This isn't a productive answer. You cannot "ignore" the message, it will not let me file. Hence why I am here seeking help.

[JohnB5677]

Please read step 7 above.  No one is suggesting to ignore the message.  

This is a simple workaround that is designed to help you continue with your return.

If you select  I have more info to enter that I don’t see here located at the bottom of the screen.  If some of the loss from your stock sale is disallowed due to the wash sale rules, report it here. 

[tcco94]

Sorry, John. Was more of a reply to the message above. Thanks to your help I was able to fix the issue and file today. Thank you!!