Can I enter a disallowed wash sale of $0.12? Program is not letting me enter an amt less than $1.00. I do not want all losses disallowed.

[KathrynG3]

Yes, you can do this. But, it is better to be at the point of original entry in TurboTax Online, or using a specific worksheet in TurboTax CD/Download.

To correct the wash sale import,

...if you are in TurboTax Online, the way to adjust the error in TurboTax Online is to return to the original entry. There is no way to adjust the wash sale at the Review.

To return to the Investment Section, leave the Review by following these steps:

• Click Federal from the left menu.
• Scroll down to Stocks, Mutual Funds, Bonds, Other and Review.
• Click the Review button by the stocks that need correction. 
• Click the pencil icon next to the stock transaction at Review your sales.
• Continue through the next screens until you again are at Review your sales and reach Now we'll walk you through entering your sale details. Scroll down and check the box for I have more info to enter that I don't see here.
  • When testing this, I was able to enter amounts less than $1 in this area.

...if you are in TurboTax CD/Download, before correcting the Wash Sale, try using the "Capital g/l adj" page. instead. 

To find this form, follow these steps:

• From the Forms Mode, click Open Form.
• In the Search box, enter Capital gn.
• Under Form 1099-B Worksheet, select Capital gn(ls) adjustments/other info and Open Form.
• A new window will open: Step 1: Add Capital gn (ls) adjustments/other info. Scroll to find the sheet for Capital g/l adj and select Next and Finish.
• In Part III Specific Adjustments, scroll down and check the box next to Sale includes a disallowed wash sale loss (code W). Amount (leave blank if all)
  • Click on the box where an amount should be. Then, a + will occur to the left.
  • Click on the + Icon to open up the Description and Amount Worksheet and list your amounts here with the pennies.

[lsweet0203]

It still isn't letting me edit the amount at all to make the correction. There is no "+" symbol to click on. Please advise.

[WendyN2]

Unfortunately, this field does not accept a zero dollar value and if the amount is $0.49 or less the system itself rounds the figure down to zero. It is a technical issue that TurboTax/Intuit is aware of and is working to correct. In the meantime, in order to e-file, since this amount will in no way affect your bottom line (meaning, your taxable income figure will not be affected enough to change your tax bracket which is what factors your total tax), just change the number to $1 dollar even. It is a work around, I realized this, but again if you wish to e-file now and this less than a dollar amount is all that is holding you up, then adjust it to what I stated. You will be fine.