Retirement tax questions

@fanfare 

 

Yes, all the wash sales go on Form 8949 and TurboTax actually does a nice job with it as TurboTax automatically pulls the wash sales from my brokerage account import and itemizes them on 8949.  The rounding issue creating 0's and 1's is not ideal for precision but it is easily explained.  And yes, it makes for a very lengthy Form 8949.  I have been reading lots of stories in the Financial News about how there are millions of new pandemic daytraders ....and many will have 100+ page tax returns this year...hope the IRS systems are ready for the influx! It really is a whole new world with mobile phone "free" trading services like Robinhood. There are people who sit there and flip stocks 5 days a week. Of course, most will eventually lose money but that is a topic for another day.