You'll need to sign in or create an account to connect with an expert.
If you are using one of the CD/downloaded versions of TurboTax, please be sure you have updated it to the latest version. A recent update has corrected an issue similar to what you described. (The update was released after the time you posted your question.)
Take a look at the following TurboTax article for instructions: How do I update my TurboTax CD/downloaded software program?
If you are using the latest version and the error persists, see the following information:
The error messaging you are seeing with regard to the wash sale entries is a result of automatic rounding of the number imported from your broker or typed in by you. If the wash sale adjustment is $0.49 or less, then it is automatically rounded to zero. This type of rounding is allowed by the IRS. Unfortunately, zero is not a valid value for this field -- thus the error message.
To resolve the issue, you can edit each individual transaction (although not from the screen in the review process) 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 you have too many transactions that would require editing, you can consider deleting your imported information and entering a summary of the different categories of transactions reported on your Form 1099-B (short-term covered, short-term not covered, long-term covered, long-term not covered). This may require you to mail a copy (not the original) of your Form 1099-B from your brokerage to the IRS within three days of filing your return. The Form 1099-B would be attached to Form 8453, which will print with your return.
With all the competition I can't believe this is still happening. Will go in and correct rounding on all the items (online version) and let everyone know if that works.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chuntutiu
New Member
vgassmann
New Member
rex-wardlaw
New Member
PetuniasAuntie
Level 2
Rooster3
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.