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geedub35
New Member

I can not complete my filing because the software will not allow me to enter a decimal on a disallowed wash sale. Anyone know how to fix?

I cant finish my taxes because of one cent, literally a penny.
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1 Reply
rjs
Level 15
Level 15

I can not complete my filing because the software will not allow me to enter a decimal on a disallowed wash sale. Anyone know how to fix?

All amounts on a tax return are rounded to whole dollars. 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 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.

 

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