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Not applicable
posted Feb 18, 2021 9:06:36 PM

Wash Sale Rounding Error - Tried it all does not work

I have seen a good half dozen posts on this topic and I keep seeing the same answers, none that help me. Including a tech support lady who was clearly just trying to get me off the phone because she did not know. 

 

But clearly this is caused by a ROUNDING issue with TurboTax. But I digress, here are my two problems: 

 

Problem 1) Accrued market discount should not be 0. Enter amount disallowed in wash sale rules, or leave blank if entire loss is disallowed. 

Disallowed sale amt <0.>

 

Attempted solution(s).  First I tried (per TT experts and others on community forum) to remove the 0. from the EITHER the adjustment amount OR 'X - Sale includes disallowed wash sale (Code W). Amount (leave blank if all).  I have ALSO tried BOTH options.

 

Following the removing of the 0. from Problem 1 - I get a NEW problem... Problem #2.  

 

Problem 2) Accrued market discount requires a value when the sale does not result in a net loss. 

Disallowed wash sale amount <BLANK>

 

I am NOT using the online version.  I am using TurboTax Premier for Mac.  Any help you can provide would be wonderful. If its being looked into to be fixed that would be nice to know as well. 

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2 Replies
Not applicable
Feb 19, 2021 6:17:24 AM

I spoke to a TurboTax support person today who was incredibly competent and we got it figured out. Removed all the error forms (since their already summarized on 8949 -- just need to mail in Form 8483 along with a copy of my 1099-B from my broker. Boom done. 

Level 15
Feb 19, 2021 6:38:21 AM

That's called the mail-in election.

Some filers object to having to mail something in to the IRS after paying for TurboTax.

Some filers have thousands of trades and the printout is enormous.