PA doesn't follow Federal wash sale rules. How do I adjust the numbers in the Sched D "Basis Adjustment" column that have been transferred with the wrong numbers for PA?

For instance, "Cost or Basis" from my 1099-B is $416 with a Wash Sale Loss Disallowed amount of $57. The "Cost or Basis" on my PA Schedule D is coming up as $359 and I believe it should be $416 (correct me if I'm wrong), but don't know how to edit it without going back to the federal return and making the amounts wrong for that one.

4674

New Member

Jun 6, 2019 10:28:28 AM

Figured it out. On the Schedule D form, enter an X in the 1st column to mark that the transaction is Not subject to Pennsylvania tax. Then re-enter the transaction manually at the bottom with the corrected Basis Adjustment.

Level 1

Oct 12, 2020 12:03:02 PM

Are you just adjusting the wash sales that are a loss?

Do you have to adjust the gains also for PA?

HOW are you adjusting the basis?

Can you give an example of each?

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PA doesn't follow Federal wash sale rules. How do I adjust the numbers in the Sched D "Basis Adjustment" column that have been transferred with the wrong numbers for PA?