Question

If I have a stock sale w/ code W means disallowed. It says amount can't be 0

Forum|Forum|5 years ago
February 21, 2021
2 replies
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My info was imported from my brokerage and there must be an error because an amount for one stock sale on my capital gains worksheet has code W for disallowed and then the amount is 0 and when I try and federal review it flags that entry but won't take me to the specified entry or let me change it!

TurboTax Self Employed Online

hbl3973

Employee

mlove11987,

Take a look at your actual brokerage statement to see what the W (wash sale) adjustment is supposed to be. Just because you imported data from your broker, doesn't mean you cannot edit it. All the import does is save you having to type lots of numbers into TurboTax. (Confession: I did import once years ago. It was really messed up and took an hour to clean up and have never imported again.) If the wash sale adjustment is really zero on your statement, then just delete that one entry and reenter it manually without listing it as a wash sale. And, yes, I agree with you that TurboTax should have taken you directly to the relevant worksheet or form line.

hbl3973

Employee

Also, before I forget, TurboTax rounds numbers to the nearest dollar, so a wash sale less than +/- 50 cents turns into zero. Let me know if you are seeing this case and I'll try to report it as a bug.

M

mlove11987Author

Yes the problem is where the wash amount was 0.40, 0.38, 0.05, 0.25. It won’t let me get passed it or change it although the amounts are correct it rounded down to 0. It won’t let me efile or change it.