Hello, thank you all for your replies. For the reply from “DianeW777” and “fanfare”, my questions are related to how to list all the stock sales, of which 5 are “wash sales” on form 8949 and schedule D. Based on various replies from the TurboTax community, I plan to do the following. Please confirm if I am correct. I apologize for potentially repeating myself, but I want to make sure this is correct. Thank you.
I have two brokerage accounts
Account #1 – short term sales have 5 “wash sales”; no adjustments (i.e., no wash sales) on all the long-term sales.
Account #2 – no adjustment on both short-term sales and long-term sales.
What I plan to do:
Account #1 –
- List the 5 wash sales (with code W and adjustments on column f and g) individually on form 8949 with box A checked (short term covered), then the total of the wash sales is transferred to line 1b of Schedule D
- Add the rest of the short-term sales together and combine with all the short-term sales in Account #2, and enter the total directly on line 1a of Schedule D (since these sales do not have adjustments)
- Add all the long-term sales together and combine with all the long-term sales in Account #2, and enter the total directly on line 8a of Schedule D (since these sales do not have adjustments)
Account #2
- Add all the short-term sales together and combine with the short-term sales that do not have adjustments in Acct #1, and enter the total directly on line 1a of Schedule D (see #2 above)
- Add all the long-term sales together and combine with all the long-term sales in Account #1, and enter the total directly on line 8a of Schedule D (see #3 above)
The results are:
Form 8949 – 5 individual wash sales
Schedule D
Line 1a – total of “non-wash sales” in acct #1 and all the short-term sales in acct #2 as one line total
Line 1b – total of “wash sales” that match with the total on form 8949
Line 8a – total of all the long-term sales in Acct #1 and Acct #2 as one line total
No need to attach the brokerage 1099B pages that show the 5 wash sale lines (also TurboTax input did not say to attach the brokerage statement)
