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Investors & landlords
Since the gain (buying) of second batch is within 30 days of selling the first batch, the first transaction is considered wash sale.
- Yes, the first transaction is a "Wash Sale".
Form 1099-B from E-Trade does not show the cost basis of RSU, so I need to calculate it myself.
- That is correct.
I understand that since the first transaction is wash sale, the loss is not deductible, but I can add the loss (let's say -$5,000) to the cost basis of the second RSU that I sold.
- Again, you are correct. Provided you sold the second batch of RSU, and didn't purchase anything new for 30 days prior, or after, you can adjust the cost basis.
My question is, where in TurboTax 2022 I can add the increased cost basis ($5,000) from the first sale to the cost basis of the second RSU sale?
- I'm not sure if you're on the Desktop, or Online, but I'll give the Online answer. The Desktop is very similar.
On sidebar
- Select Federal
- Wages & Income
- Select Wages and Salaries, or Revisit
- Scroll to Retirement Plans and Social Security
- Select the type of income.
- IRA, 401(k), Pension Plan Withdrawals (1099-R)
- Social Security (SSA-1099, RRB-1099)
- Canadian Registered Pension Income
- At this point you can edit an existing document of [Add another 1099-R]
- If a new 1099-R continue to Let's import your tax info
- You can import by selecting your provider.
- Follow the instructions.
- —---- Or to post manually —-------
- [Change how I enter my form]
- [Type it Myself]
- Post your information exactly as it shows on your 1099-B
- On the input screen, just below Box1e - Cost or other basis.
There is a check box The cost basis is incorrect or missing on my 1099‑B
Select the box and make the adjustment.
If this does not completely answer your question, please contact us again and provide some additional details.
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