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lani610
New Member

Should my cost basis be adjusted by my wash sales loss disallowed and if so how?

 
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2 Replies
RobertB4444
Employee Tax Expert

Should my cost basis be adjusted by my wash sales loss disallowed and if so how?

No.  After you enter your cost basis there is a little box below the basis that says "I have other boxes on my 1099-B to enter".  Tick that box and the "1g - Wash Sale Loss Disallowed" box will pop up.  Enter the wash sale amount in there and the bottom line on the trade will be entered by the system.

 

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rjs
Level 15
Level 15

Should my cost basis be adjusted by my wash sales loss disallowed and if so how?

The wash sale loss disallowed affects the basis of the replacement shares, not the basis of the shares that you sold. The brokerage should keep track of this for you. When you sell the replacement shares the brokerage should add the loss that was previously disallowed to the basis that they report for that sale.

 

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