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ggbarela
New Member

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

 
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5 Replies

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

I think what is causing this is that the value on the form is less than .50 so it is rounding down, making it 0 which is not allowed.    In my case I imported the forms and the value on the form is .05, so ended up with 0.  The problem is there is no way to update it.  Hope that makes sense.   I will report an issue on this.   If anyone else can verify the amount on the actual form is a small amount that would be helpful.   

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

Talked to support, and to resolve the issue I had to go to the form 1099-B Wks,  found the small amount, and deleted it.  (mine was .05)  I no longer got the error in smart check.   Issue resolved.

ggbarela
New Member

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

Sorry just getting back to this now. I did the same.  Support said to adjust 1099-B for the rounding error.  Worked like a charm. 

Help73
New Member

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

I am running into this same issue...but 70 of them and it is not realistic to delete them all as each one takes 5 min or more to process. Is there a way to just manipulate the form myself or a number to call?

JohnB5677
Expert Alumni

Sale includes a dissallowed wash sale loss (code W). Amount (leave blank if all) . This keeps jamming me up and I can't enter anything in this box to proceed.

No, there is no way to manipulate the form.  An alternative would be to clear the entries and post it as the summaries.

 

Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, "Box A short-term covered" or "Box D long-term covered." You'll enter the summary info instead of each individual transaction.

  1. Open or continue your return (if it's not already open) and search inside TurboTax for the phrase stock sales.
  2. Select the Jump to link in the search results.
  3. Answer Yes to both Did you sell stocks, mutual funds, bonds, or other investments? and Did or will you receive a 1099-B form or brokerage statement for these sales?
    • If you land on Here are all your 1099-B sales, select Add sales from a different brokerage. Then answer Yes to Did or will you receive a 1099-B form or brokerage statement for these sales?
  4. When asked how you want to enter your 1099-B, select I'll type it in myself.
  5. Select or enter your brokerage on the next screen and continue.
  6. On the following screen (Tell us about...), answer the questions until you reach the next screen. Select the second option, Let's enter a summary instead, and select Continue.
  7. You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.

When you are done, you'll eventually come to the Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.

 

You will have to mail a copy of your 1099-B to the IRS.  TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it. 

 

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