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Investors & landlords
No, TurboTax will not identify wash sales as that is the responsibility of the brokerage firm and the individual taxpayer. You are correct in that transactions between accounts are taken into account when determining whether a sale results in a wash sale.
Additionally, the IRS has ruled (Rev. Rul. 2008-5) that when an individual sells a security at a loss and then repurchases that security in their (or their spouses’) IRA within 30 days before or after the sale, that loss will be subject to the wash-sale rules.
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April 18, 2022
7:46 PM