If my disallowed wash sale loss is less than one dollar, how do I enter it? TurboTax won't accept it.

[OneBuddy]

No

[Jerry-B]

As mentioned, I used the summary numbers and separate documentation mailed in. It still seems to be processed as online ... My refund was sitting in my credit union account ((pending post date) only 2 weeks after the IRS accepted my return.

[Jerry-B]

Not having a printer makes it more involved. If you've received an electronic copy of your broker's info, you could copy the file to a thumb drive and go to a local office supply store (like Staples) to get your documentation printed out. Or send the file to a nearby friend who does have a printer.

[Jerry-B]

I agree it's a bug. But don't wait for a fix (if you have a CD copy of TurboTax, you probably won't see a fix this year; and online - might not see that fix this year either). Just follow one of the suggested solutions and get the task behind you.

[bttrainingyard]

@Jerry-B  This is crazy. Who wants to wait a minimum of 6 weeks for their return to come.

[JUNIORSE]

This is incredibly frustrating, I have over 300 of these transactions and TurboTax knows there's a problem. Their program charged me money then wait until the final review to bring this washsale problem and refuse to update the software. I've been filing with them for about TEN years but i've had it. Every method posted here is NOT working and is just waiting my time. 

[tgwatson]

Annette... If Turbo Tax isn't going to fix the problem then why should I use them?  The whole reason to use TurboTax is for its advantages (eg: importing stocks, accurate information, automation, etc..), but if these are now malfunctioning and  Turbo Tax is saying I need to enter it manually or print it out and mail it in - What Bull Poop.  Why pay Turbo Tax if the system isn't working and I have to basically do all the work??

I paid for a product that is not functioning as Turbo Tax is stating is should...that is fraud! 

[JohnB5677]

Here is a solution to enter a disallowed Wash sale:

1. Income & Expenses
2. Scroll to Stocks, Mutual Funds, Bonds, Other
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
4. On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
5. From here, you can import or manually enter your 1099-B.
6. Answer the questions about your sales. Choose to Enter sales one by one when asked.
7. On the Now, we'll enter one sale on your 1099-B screen, enter your info.
8. Check I have other boxes on my 1099-B to enter and enter the disallowed wash sale loss in box 1g.
9. 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.

[wordfiddler]

Thank you! That worked, eventually. I had to do the override, then save the file, then run the error check again. Without saving the file first it was still reverting to 0.

[Mikerosen]

Thanks that worked. What is also worth pointing out is that when I imported my 1099-B's from the broker it automatically entered the less than a dollar amounts, which you can see in the "Step-by-Step", but you do not see in the "Forms" mode.  You can not override this in Forms mode, without first deleting the less than 1 dollar amount in Step-by-Step mode, so it can be null.

So the bug in TurboTax is that they are storing the number as a fractional number, and it will not allow you to remove the fractional number from the form(because you don't see it), and will not allow you to enter a number less than a dollar on the form.  TurboTax should do the rounding for us when entering the value on the form, or not hide the fractional amounts.

Hope that helps explain the issue.  This is a bug in TT that should be fixed.

[julissammt]

thank you so much! you are my life and time saver. this worked!

[bttrainingyard]

@julissammt  Which option did you choose?

[colizad]

Yeah, I have 25 pages of short and long-term sales to adjust then?! The total I have is over $200, but it won't accept the $229 I keep entering.

[bttrainingyard]

@colizad You have a few options, though not quite ideal. Look at the some of the methods people used in earlier post 

[bttrainingyard]

@wordfiddler  What do you mean, you had to override the file? Override the file by doing what exactly?