A wash sale is when a person sells an investment at a loss and buys or acquires "substantially identical stock or securities" within 30 days prior to or after the sale. The wash sale rule also applies to any substantially identical stocks or securities purchased by your spouse or a company you own.
For TurboTax Online, follow the steps below to enter your wash sales:
- Open or continue your return in TurboTax and search for wash sales
- Select the Jump to link at the top of the search results
- Answer Yes to Did you have investment income in 2022?
- If you land on Your investment sales summary, select Add more sales
- On the OK, let's start with one investment type screen, select Stock, Bonds, Mutual Funds. Then select Continue
- From here, you can import or manually enter your 1099-B
- Answer the questions about your sales. Choose to enter sales One by one when asked
- On the Now, enter one sale on your 1099-B screen, and enter your info. Check I have other boxes on my 1099-B to enter and enter the disallowed wash sale loss in box 1g
- Select Continue and answer any follow-up questions
Below is a link with additional information on the wash sale"
Wash Sale
@Teo93117
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