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Business & farm
Thank for your response. I did talk to my broker & they confirmed your point!
Now I have one more question.
My 1099-B did all the magic to adjust the cost basis for replacement shares & reported my final gain/loss as a loss. However, when I import my 1099-B to turbotax, I only see the gains added to my income but the loss isnt covered (shown as 0 even for replacement shares). I looked into the specific wash sales entries & see that they do have 1g column added (for wash sale) but none of those deferred losses are accounted in the final income.
Do I have to specifically do anything to mention that the sale is a wash sale + replacement sale?
Now I have one more question.
My 1099-B did all the magic to adjust the cost basis for replacement shares & reported my final gain/loss as a loss. However, when I import my 1099-B to turbotax, I only see the gains added to my income but the loss isnt covered (shown as 0 even for replacement shares). I looked into the specific wash sales entries & see that they do have 1g column added (for wash sale) but none of those deferred losses are accounted in the final income.
Do I have to specifically do anything to mention that the sale is a wash sale + replacement sale?
‎June 3, 2019
11:45 AM