Wash sale loss was $0.03. TurboTax rounds this to zero. TurboTax will not accept zero. TurboTax will not finish my return because of this. How do I proceed?

[WendyN2]

You will need to try to enter an even dollar - just $1 - and see if it goes through. PS is aware of this issue and is working to resolve this. If you've imported your brokerage statement, that does make for some more work for you. Is this the case? Or can you manually enter $1 for that wash sale? FYI, a $1 should have NO effect on your bottom line tax bracket. 

[Anonymous]

I don't think that's a true statement. Unless I'm doing something wrong, when you have a lot of small disallowed wash sales less than .50c, it adds up increasing your tax liability if you round it up to $1.

[JohnB5677]

The error message you are seeing on the wash sale entries is a result of automatic rounding.  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 for TurboTax, thus the error message.

To enter a disallowed Wash sale:

Income & Expenses

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