I keep getting Check This Entry Form 1099-B Worksheet (Robinhood Securities LLC):

Forum|Forum|6 years ago
February 25, 2020
5 replies
1 view

I do not know how to fix this error. I keep getting this message for my federal:

Check This Entry

Form 1099-B Worksheet (Robinhood Securities LLC): Noncovered Security applies only to a transaction reported on Form 1099-B. Do not enter for 247RGT012 DMPI RIGHTS 1.

TurboTax Free Edition Online

Antonio90

Level 2

Same issue uploaded form through Robinhood. Have you found a fix? Thanks!

andylg35

Level 2

hi, i keep getting this error. what's the fix for this? thank you

KathrynG3

Level 14

If you have any cryptocurrency, it should reported in a different section.

If this is the case, I suggest deleting the Robinhood import and splitting out any portion that is cryptocurrency.

If you had cryptocurrency, click to read more in this short video and article about entering cryptocurrency details.

Delmar had a 1 for 10 reverse stock split mid 2019 which may require a basis adjustment.

HRH3

Level 2

same issue here, seems strange that Robinhood (a division of turbo tax) would have this glitch. Still haven't figured out the fix.

HRH3

Level 2

Issue resolved:

Robinhood imports all of the information on your 1099-B, including the information that doesn't get reported to the IRS; information that doesn't get reported such as gains or losses less than a specified amount by the IRS. You can find this info on your PDF with the following statement"This section of your tax information statement provides proceeds transactions that are not reported to the IRS, but may have a tax impact"

basically, the irs has bigger fish to fry and these amounts are neither worth your time or theirs.

You can resolve this error by going into your incomes > stocks > click on the brokerage that held this investment (in our case Robinhood) > click through till you get to the itemized list of investments > delete the ones that are on the list of investments not reported to the IRS.

In my case, I needed to remove my WABTEC investment from TurboTax, since it doesn't actually need to be reported.

Hope this helps someone. I did call turbotax but was told i would need to pay upgrades in order to speak to a CPA.

jbaldizon

Level 2

Thanks for the fix. How did you go about deleting WABTEC from your PDF? Or did you do something on the TurboTax website end of things?

ScottN0

Level 2

We had to remove the linked Robinhood account. I can't remember the exact steps, but this should get you close:

on the left vertical nav, click Federal >> incomes >> stocks >> delete your Robinhood account completely >> then instead of linking the account add another one and do it manually... This part sounds scary, but YOU DO NOT NEED TO ADD EVERY STOCK YOU BOUGHT. Turbotax just wants to know your totals and wants you to upload your PDF Robinhood provides. Done in 5 minutes.

isalirezag

Level 2

same issue