Wash sales are suppose to be disallowed, yet in TurboTax Deluxe 1099-B box 1g entries are subtracted from income total when they should be ignored

1099-B Box 1g Wash sale loss disallowed is incorrectly being included when income is totaled when it should be ignored.

A side by side comparison of TurboTax deluxe and HR block tax software turned up what I think is an error in how TurboTax totals income when there is a wash sale. The wash sale is disallowed, yet TurboTax deluxe seems to subtract it from income. Bug I think.

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1 Best answer

Expert Alumni

Mar 17, 2021 3:45:41 PM

You have to enter your disallowed wash sale loss in the screen that says Are any of these less common items on your form 1099-B? It look like this:

That should result in the loss being disallowed on your tax return.

Expert Alumni

Mar 17, 2021 3:45:41 PM

You have to enter your disallowed wash sale loss in the screen that says Are any of these less common items on your form 1099-B? It look like this:

That should result in the loss being disallowed on your tax return.

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Wash sales are suppose to be disallowed, yet in TurboTax Deluxe 1099-B box 1g entries are subtracted from income total when they should be ignored