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tax2done
New Member

Paper statement is $1000.00 lower than turbo tax shows in gain/loss, I'm not willing to let it stay as is.

Fidelity shows realized gain/loss over $1000.00  LESS than turbo tax. TT won't let me change it. I need a Tax person from TT to help. This is not a tax question, it's a simple math issue, TT is not applying the total wash sale to be deducted from the Gain.
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2 Replies
ThomasM125
Expert Alumni

Paper statement is $1000.00 lower than turbo tax shows in gain/loss, I'm not willing to let it stay as is.

You need to look at the gain or loss from each investment sale in TurboTax and compare it with the gain or loss as listed on your form 1099-B. You will find one or more discrepancies where they don't match up. You will need to edit those sale transaction in TurboTax to bring them into agreement with what is listed on your form 1099-B.

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Paper statement is $1000.00 lower than turbo tax shows in gain/loss, I'm not willing to let it stay as is.

"TT is not applying the total wash sale to be deducted from the Gain."

This is a job for your broker, not TurboTax.

 

IRS requires the broker to track wash sales.

If your broker marked your loss a wash, the consolidated 1099 will show the denied amount. That goes in 8949 column(g).

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