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denise-westerdah
New Member

I'm getting a check entry error for 1099b wash/disallowed amount but when I put the amount in and continue it just circles back to the question again. How do I enter?

Need to know the trick for getting this error corrected since it allows me to enter a value but then doesn't retain it.
2 Replies
Stan32
New Member

I'm getting a check entry error for 1099b wash/disallowed amount but when I put the amount in and continue it just circles back to the question again. How do I enter?

Same. Does anybody know how to get around this?

JohnB5677
Expert Alumni

I'm getting a check entry error for 1099b wash/disallowed amount but when I put the amount in and continue it just circles back to the question again. How do I enter?

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.

 

 A wash sale occurs when an investor sells or trades a security at a loss, and within 30 days before or after, buys another one that is substantially similar.

  • It also happens if the individual sells the security at a loss, and their spouse or a company they control buys a substantially similar security within 30 days.
  • The wash-sale rule prevents taxpayers from deducting a capital loss on the sale against the capital gain. 
  • Wash Sale Rule
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