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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

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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ThomasM125
Expert Alumni

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

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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1 Reply
ThomasM125
Expert Alumni

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

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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