GeorgeM777
Expert Alumni

Investors & landlords

That depends.  The term "various" in the section on a tax return that relates to security transactions usually means that a security was purchased/sold on various dates.  You might see the term various on Schedule D where you can report transactions as a summary rather than as individual transactions.  However, if you designate certain transactions as long term, make sure the sale dates are all more than one year from the date of purchase, even if you use various to describe the purchase dates. 

 

You need to be more specific with dates when it comes to wash sales.  As discussed in previous posts, the wash sale period is 30 days before, and 30 days after the sale of the security in question.  That is, if you sell a security at a loss, and then you buy the same, or similar security, with that 61-day window, you will trigger the wash sale rule.  The wash sale, as you have discussed, applies across all of your accounts wherever they are held.  

 

In your second to last post, you described a wash sale.  That is buying a security and then selling that same security at a loss in one account, and then in a second account, re-purchasing that same security.  That is a wash sale and yes, your loss will be disallowed.  You need to make the appropriate adjustment in TurboTax to remove that transaction, and then add that disallowed loss to the cost of the security you purchased in your second account.   Now, if you want to sell that security that was purchased in the second account, and not trigger the wash sale rule, you need to wait at least 30 days, because of the wash sale window period.   You can always sell the security at a profit as selling at a profit does not trigger the wash sale rule. 

 

If you prefer, you can post the dates of your purchases and sales, and subsequent repurchases--or perhaps a few of them--and we can review them to determine whether the wash sale rule has been triggered.  

 

@PJhiker 

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