I'm trying and file and it keeps bringing me back to the Capital Gain (Loss) Adjustments work sheet. I downloaded the 1099-B from the broker and one asset has a $04.2 loss that it's flagging as a wash sale. It tells me to leave the line blank if it shows a 0 BUT it won't let me change the entry so I can't file the return because it thinks there's an error. How can I change this I'm HUNG!
Thanks Bob
I assume you mean that the disallowed wash sale loss is $0.42. 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 to where the sale was entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit the sale and delete the wash sale loss amount, leaving the box blank. That will eliminate the error. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale.
I assume you mean that the disallowed wash sale loss is $0.42. 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 to where the sale was entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit the sale and delete the wash sale loss amount, leaving the box blank. That will eliminate the error. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale.