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Investors & landlords
As long as you are using ony one broker for all buy and sell of a security,
IRS requires the broker to track wash sales and report them to you and to the IRS.
That includes adjusted basis of triggering buy orders.
All you have to do is report the consolidated 1099-B that the broker sends you.
If you trade in several accounts or with more than one broker, or trigger wash sales by purchsing the security in tax-deferred accounts (IRAs) at the same time you are taking losses in regular account, you are provoking a reporing nightmare.
‎February 8, 2025
9:25 PM