On form 1099B that sent out from RH. To Know how much your capital gain or loss. look like we use the Proceeds (1d) - Cost Basic (1e) + Wash Sale loss disallowed (1g) = Capital gain or Loss. Then we will pay tax base on gain or loss right?
For example:
Proceeds (1d) Cost basic (1d) Wash Sale Disallowed (1e) Net gain or loss
1124487.33 1175947.36 52664.21 1204.18
So I will pay tax on $1204.18 ? or have to pay tax for $52664.21 + $1204.18 = $53868.39
*** For turbo tax: after I upload the 1099B From RH. If all my wash sales transaction with W code are correct on 1099B. Do I have to manually report each transaction to form 8949 ? or after upload 1099B Turbo Tax will take care the rest? Thank you so much guys
