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State tax filing
In my case, 1099-B cannot be used in 4797 directly because it contains lots of wash sales data. I have to generate a report to get the gains/losses based on original transaction history data from the broker. This generated report should be attached to support the number in the 4797 form. This is what I found from various sources.
For 4797 line 1, I was told I don't need to fill it. (https://ttlc.intuit.com/community/state-taxes/discussion/which-4797-form-option-should-i-select-in-t...)
The MTM trader tax return is complicated. It is really hard to do. I am happy I am almost there with the help from the community. Really appreciate the help from you guys.
March 28, 2025
5:52 PM