Skip to main content
March 1, 2021
Question

I have been working on this for a few hours but right at the end before I am about to click file it tells me to Check an Entry on form 1099-B. It's there but wont let me

  • March 1, 2021
  • 1 reply
  • 0 views
it won't let me continue. It is stuck in a loop.

1 reply

CatinaT1
March 1, 2021

The error messaging you are seeing with regard to the wash sale entries is a result of automatic rounding of the number imported from your broker or typed in by you.  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 -- thus the error message. 

  

To resolve the issue, you can edit each individual transaction and delete the amount entered in the wash sale adjustment if it is $0.49 or less.  This will clear the error message.   

  

To do this, you will need to revisit the input section for the Form 1099-B transactions.  Use the following steps: 

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner) 

  • This opens a box where you can type in “1099-B” and click the magnifying glass (or for CD/downloaded TurboTax, click Find) 

  • The search results will give you an option to “Jump to 1099-B” 

  • Click on the blue “Jump to 1099-B” link 

  • Click Edit beside the institution name 

  • Click Edit beside each transaction that contains a wash sale adjustment amount of $0.49 or less 

  • Delete the wash sale adjustment amount and click Done 

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