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Retirement tax questions
do you report your wash sale details as required by the IRS?
hundreds of wash sales means dozens pages of Form 8949.
"I might add a line for "Rounding Adjustment" to make everything tie out to the exact dollar."
Why not? I seriously doubt IRS ever looks at these records, unless a large audit is underway.
The IRS wash sale rules are a holdover from the good old days of a century ago. when operators, big shots, and rich investors tried to fool the IRS and reduce taxes at the end of December with invented losses.
Nobody had hundreds of wash sales..
March 14, 2021
5:14 AM