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Get your taxes done using TurboTax
Let's go back to basics.
A wash sale occurs when you sell a stock at a loss and then re-purchase essentially the same stock within 30 day (including January of a following year). In this case the loss is disallowed, and you do not get credit for it on you profit statement.
Your broker should maintain this information. The biases of the stock you re-purchased should increase by the amount of the wash sale loss. Thus the net profit or loss will be accounted for when you sell the re-purchased stock.
This then is not a TurboTax issue, but rather an issue of the maintenance of your account by your broker.
Often if you change brokers the wash sale adjustments are lost.
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‎February 8, 2021
10:59 AM