Large number stock transaction: entering sales section totals

[PAGB]

Sorry for the late reply, I am not exactly sure. I actually thought the answer is yes if you don't exceed their limit and they can download your trade info. But some seem to believe TT actually can't do that.

I guess you'd need to talk to an employee 

[fanfare]

@rjs 

See also above.

[fanfare]

Brokers do not exchange Wash sale information.

you have to do that yourself manually.

TurboTax won't merge your broker 1099-Bs to produce more wash sale info than that supplied by the brokerage.

Best strategy: avoid wash sales. especially in two or more brokerages.

[mwgwin]

More specifically, will Turbotax calculate the wash sales when they are between accounts?

I moved many positions last year over time from Robinhood to TDAmeritrade.  I am certain there are some wash sales in there, but am not certain whether Turbotax picked them up since they were between accounts?

[GeorgeM777]

No, TurboTax will not identify wash sales as that is the responsibility of the brokerage firm and the individual taxpayer.  You are correct in that transactions between accounts are taken into account when determining whether a sale results in a wash sale.  

Additionally, the IRS has ruled (Rev. Rul. 2008-5) that when an individual sells a security at a loss and then repurchases that security in their (or their spouses’) IRA within 30 days before or after the sale, that loss will be subject to the wash-sale rules.

@mwgwin