Easy way of filing with wash sale disallowed losses

Forum|Forum|5 years ago
February 21, 2021
1 reply
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Hi,

i am in preperation of filing my taxes and trying to figure out a easy way of doing so, rather than itemizing 86 pages of stock trades. Many of which with wash sale dissallowed losses.

In my mind: Total capital gain + the total amount of wash sale losses disallowed equals amount i have to claim. Is this thinking correct?

Can somebody confirm if i'd be able to file like that? Or am i literally forced to itemize every trade due to the wash sale losses disallowed?

Any help would be greatly appreciated.

jtax

Level 10

If your brokerage supports it then you could just import the transactions into TT. That should pickup all the detail include the wash sale adjustments.

Or you could just enter a summary for the broker. You might have to mail in the 1099-B to the IRS though. If so TT will give you instructions.

See this FAQ and previous discussion for more detail and ask again if this doesn't help you.

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-large-number-of-stock-transactions-in-turbotax-online/00/26748

https://ttlc.intuit.com/community/taxes/discussion/what-exactly-do-i-need-to-mail-in-with-my-8949-form/00/681901

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