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Retirement tax questions
When you edit your 1099-R there will be a box to check that says Allow me continue with incomplete information. When you check that box you will get to the screen to enter your wash sale.
- A wash sale occurs when an investor sells a security at a loss for tax benefits.
- The IRS instituted the wash sale rule to prevent taxpayers from abusing wash sales.
- Investors who sell a security at a loss cannot purchase shares of the security—or one that is substantially identical to it—within 30 days (before or after) the sale of the security.
February 24, 2021
5:21 PM