To enter wash sales disallowed for your short term trading losses, follow the steps below. These directions will allow you to enter a value that will carry to box 1g. For a great overview, see: How do I enter a wash sale? or see the description here:
To edit wash sales in TurboTax Online, follow these steps:
- Click Federal from the left menu.
- Scroll down to Stocks, Mutual Funds, Bonds, Other and Review.
- Click the Review button by the stocks that need correction.
- Click the pencil icon next to the stock transaction at Review your sales.
- Continue through the next screens until you again are at Review your sales and reach Now we'll walk you through entering your sale details. Scroll down and check the box for I have more info to enter that I don't see here.
For TurboTax CD/Download, the instructions below do not require an override by using the "Capital g/l adj" page. instead.
To find this form, follow these steps:
- From the Forms Mode, click Open Form.
- In the Search box, enter Capital gn.
- Under Form 1099-B Worksheet, select Capital gn(ls) adjustments/other info and Open Form.
- A new window will open: Step 1: Add Capital gn (ls) adjustments/other info. Scroll to find the sheet for Capital g/l adj and select Next and Finish.
- In Part III Specific Adjustments, scroll down and check the box next to Sale includes a disallowed wash sale loss (code W). Amount (leave blank if all)
