Hello. I have encountered two different errors when TT online is reviewing my 2022 Federal 1040 return prior to e-filing.
First is Form 1099-B Worksheet - Capital Asset Sale Wksht (1): Desription is invalid for Electronic Filing. Please remove all preceding spaces or invalid characters. It shows the Description field with only an "&" but the actual Worksheet below takes literally over 5 minutes to display (!). What I then do is just change "&" to "and". However, the field in question must be present multiple times in the same worksheet, as I have to make the same correction multiple times (each time waiting 5+ minutes for the page to fully display--very annoying). The field in question is "Name(s) Shown on Return". It has our names as "John B & Jane D Smith". I assume TT generates this value, as we do not specify it like that anywhere on our return. Why does TT generate "&" in this field when evidently the IRS does not accept it, thus requiring us to correct it?
Second is similar for a 1099-B sale. The Box 1a -Description is blanked out and the error is "Needs info". The original field value contains a fund name like "U S Aerospace & Defense", but I had to search through 50 pages in my 1099-B to find it based the Proceeds, Date, and Basis figures displayed. Again, I changed "&" to "and" and the review completed successfully.
I have not e-filed yet, but I assume the IRS will not reject this return with the changes I made.
I see other posts about "&" not being treated correctly in W-2 Employer Box C values, but the above problems appear to be different?
Please advise if this is a known or new bug, or (for the fund name with "&") maybe I need to contact my financial institution?
