Get your taxes done using TurboTax
Try using these steps for each of your main sales section total categories, short and long term. You have two options:
First option, Follow the steps below, which will enter the adjustment in Part III of the Capital Gains/Loss worksheet.
Second otion: Follow these same directions, only enter it in Part II, Manual Adjustments.
In either case, there needs to be a separate adjustment for Short Term and Long Term.
Please note, Part II will produce an error if anything is in Part III for adjustment.
- From the Forms Mode, click Open Form.
- In the Search box, enter Capital gn.
- Under Form 1099-B Worksheet, select Capital gn(ls) adjustments/other info and Open Form.
- A new window will open: Step 1: Add Capital gn (ls) adjustments/other info. Scroll to find the sheet for Capital g/l adj and select Next and Finish.
- In Part III Specific Adjustments, scroll down and check the box next to Sale includes a disallowed wash sale loss (code W). Amount (leave blank if all)
- Click on the box where an amount should be. Then, a + will occur to the left.
- Click on the + Icon to open up the Description and Amount Worksheet and list your amounts here with the pennies.
A screen shot of Part II:
Note: Enter the "W" as shown and enter the amount in the same manner described above.
