Question

Capital Gains Entry Giving Smart Check Error for Cents

Forum|Forum|5 years ago
January 16, 2021
21 replies
0 views

I'm using TurboTax 2020 Deluxe from CD on my desktop. I had two stock sales last year. I entered sales price and cost basis in dollars and cents as my 1099-B shows. I've done it this way for years. When I run Smart Check, TurboTax says that I have an error. It says that the amounts entered in the 1099-B Worksheet do not match the values in Capital Gain Adjustment Worksheet.

When looking at the Forms View, I see that the Forms 1099-B Worksheet shows the dollars and cents. Schedule D shows only the dollars. I believe that TurboTax took this into account in prior years and rounded it for me. I can get around the Smart Check error by rounding the sale and cost amounts to the nearest dollar but I shouldn't have to do this. I'd prefer to enter the cents since I want my entry to match my 1099-B.

Is this an error that TurboTax plans on fixing and has anyone else encountered this error yet?

A

Anonymous_

Employee

I have reported this issue to the Moderators as a possible bug in the software.

S

silverviper78

I am having the exact same issue. The 1099-B values are exact amounts and the Capital Gains (Loss) worksheet is rounded. TurboTax Premier 2020 is giving errors on each one (400 errors) stating the values do not match. The errors are reduced by manually matching the values.

H

Hapa

I am also receiving this issue.

Check This Entry

Form 1099-B Worksheet: Sales Price does not match the value on the Capital Gain (Loss) Adjustment Worksheet.

Leave this value blank when using the Capital Gain (Loss) Adjustment Worksheet.

I have probably over 50 entries I have to correct to clear this.

H

Hapa

Just to update, this is occurring on the web side as well.

C

chevymonza

I have this exact same issue, 233 instances found. This worksheet was created by Turbo tax by a direct import from the broker.

K

kkwong98

same here, i download 1099B form TD Ameritrade. 88 errors. waiting for the update. should not happen in the first place.

J

johnpatrick66

I have the same problem, using the online version, importing data from TD Ameritrade. I already paid to eFile federal and state returns, hoping the system would ignore the error, as it seemed to involve only the worksheet. But no luck. I am unable to eFile. I really don't want to manually fix this myself, or mail via postal service, since I am paying for ( already paid for) the automation.

H

Hapa

If you read up, they are already aware of this issue. I recommend not filing or submitting anything until the issue is corrected. According to the moderator, the fix is scheduled to be live on 1/28/2021.

D

DIYchick2021

As of 2/4/2021, issue is not fixed and very disappointed with purchasing this program! I needed my taxes done asap for business purposes.

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Jherre

I am experiencing the same issue. This isn't okay, a bug in the production during tax season? This needs to be escalated and expedited.

DaveF1006

The IRS recommends round up or rounding down to lessen the chance of arithmetic errors. Go back to where you made the entry in your return and roundup or down so that the two amounts are consistent in the 1099B worksheet and Schedule D. Please view this turbo tax link for more specific information.

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J

Jherre

The issue is that we did not manually make these entries in the return. The system automatically does this for us. I paid extra for the automation process. I'm supposed to modify my 200+ transactions and round them up or down myself? What's the point of paying extra if I have to do this manually.

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ducatit3ch

Following... thought I was going crazy trying to get this resolved, thanks for the thread. Turbo Tax needs to fix this asap. Why pay for something when it does not work? I would not have paid to efile tonight if I could not efile tonight. Fail on Turbo Tax, and Fail on me for trusting the system to work as it should. I should not get an error for a few sales that are entered right, then spend way too much time (an hour) trying to troubleshoot what I could have done wrong. If they know about the bug, PUT UP A WARNING SO PEOPLE KNOW DURING PREP.

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Csj72

I fixed the issues regarding the errors on the capital gains worksheets.

It seems on the forms they are all-rounded to the nearest dollar. Turbo tax gives you the exact dollar amount. You just have to go in and readjust the dollar amounts to the nearest whole number and the issue will be fixed. Not that complicated for only a few stocks but someone that has a lot of entries it may take some time, I only had 4 entries

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runner

I just spent 30 minutes on the phone with customer service and they were not able to confirm when any sort of update will be made. They were not helpful in the least. This is very disappointing. You would think that TT staff would be viewing these boards in an effort to address ISSUES. Good grief.

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rsmglj

I am having same problem. I have a lot of transactions so I have no interest in going in and putting cents on each transaction. Don't know why Turbo Tax has decided to round each transaction, Also when I go to open item from review and do the Fix option it hangs up and says Turbo Tax 2020Live is not responding.

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rrc3rd

I had 98 errors yesterday and after the update I still have 2 i cannot correct ... a Wash sale and it wont let me put in the .21