I am trying to enter wash sale amount onto Capital Gain (Loss) adjustment worksheet, Part III as it was highlighted during final review. However, TT will not permit me to enter the amount. How can I enter the amount from the 1099B?
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If the number you are trying to enter is $0.49 or less, round it to zero (allowed by the IRS) and do not enter anything in the field.
Otherwise, an error code will be generated after the number is automatically rounded down and the entry will need to be deleted to move forward.
To resolve the issue, you can edit each individual transaction and delete the amount entered in the wash sale adjustment if it is $0.49 or less. This will clear the error message.
To do this, you will need to revisit the input section for the Form 1099-B transactions. Use the following steps:
If the number you are trying to enter is $0.49 or less, round it to zero (allowed by the IRS) and do not enter anything in the field.
Otherwise, an error code will be generated after the number is automatically rounded down and the entry will need to be deleted to move forward.
To resolve the issue, you can edit each individual transaction and delete the amount entered in the wash sale adjustment if it is $0.49 or less. This will clear the error message.
To do this, you will need to revisit the input section for the Form 1099-B transactions. Use the following steps:
TT HANDLED WASH SALES WITH NO PROBLEM FOR THE PAST MANY YEARS. NOW THIS YEAR I HAVE A MULTI-STEP FIX ON EACH OF MY WASH SALES. WE NEED A SOFTWARE FIX NOT A WORK AROUND.
TRIED YOUR SOLUTION AND TT CRASHED
I agree we need a software fix.
The fix (going to the 1099-B form and editing each entry) to delete the 0 that I originally put in the wash sale box didn't fix the error message. What else can I do?
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