Getting lots of error messages during "smart Check." "Form 1099-B... Cost or Adjustment Basis does not match the value on the Capital Gain Adjustment worksheet."

Forum|Forum|5 years ago
January 19, 2021
3 replies
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Is this an error on the program or on the 1099-B source?

TurboTax Premier Online

AmyC

Employee

The tax software and the downloaded numbers are not rounding in the same method and this is throwing off the worksheet. This is a known issue and a fix is in the works.

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sam98Author

I appreciate the responds. Spent an hour on the phone yesterday and was told I need to upgrade to Premier for assistance... Thank goodness I didn't.

DeciduousTree

I am getting an error message in Smart Check about an adjustment cannot be zero - must be blank for all - and I can't correct the field. Won't let me clear it or change it. This is the only issue remaining (4 of the same message from an imported Acorns file).

tepsastri

Hi DeciduousTree

You won't have any of these issues if you choose the paper version. Don't ask me why, 'cause I don't know. I am a happy man now after my mailing of the paper form to the IRS a week ago. You can be happy too.

Next year let's not come back to Turbo Tax.

jarv1s

I am having the same issue this is what I am seeing:

Form 1099-B Worksheet(Robinhood Securities LLC): Holding Period must be selected because not enough information is present on the Capital Gain(Loss)Adjustment Worksheet to determine the holding period.

I cannot click the window to choose entry it will go to a page unresponsive.

There are only 930 line items on my 1099-B I am stuck on this window. I did try opening a different browser and have the same issue. I did delete the entire import and re-import it back still have the same issue.

MaryM428

You can delete the individual entries and just add a summary of each of the different sales categories. Your 1099-B should have those groupings. For example "Short-term covered" or "Long-term covered".

Open or continue your return and search for stock sales.
Select the Jump to link in the search results.
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?.
- If you land on Your investment sales summary, select Add more sales.
On the OK, what type of investments did you sell? screen, select Stocks, Bonds, Mutual Funds, then Continue.
When asked how you want to enter your 1099-B, select I'll type it myself.
Answer the questions until you can select Enter sales section totals.
You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.