Question

Help! I am stuck at Capital Gain (Loss) Adjustments Worksheet, and no matter what I enter, I cannot get past it to finish filing Federal return. Imports from Acorns/RH.

Forum|Forum|5 years ago
February 23, 2021
1 reply
0 views

I have a wash sale entry that auto populates to 0. The value in the fields in question are < 1, so I can't enter .40, but if I enter 0 or 1 or leave it blank, it fails to validate appropriately and I am stuck in this endless loop at the end of federal filing.

TurboTax Premier Online

rjs

Employee

A disallowed wash sale loss of less than 50 cents gets rounded to zero, so there is no wash sale. You can't correct the problem in Smart Check where it displays the error message. You have to go back to where the sale was entered under Investment Income > Stocks, Mutual Funds, Bonds, Other. Edit the sale and delete the wash sale loss amount, leaving the box blank. That will eliminate the error. In other words, since the wash sale loss is less than 50 cents, you don't report it as a wash sale.