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New Member
posted Mar 15, 2025 4:32:32 PM

Turbo tax is picking up box 1g in 1099-B, but NOT net GAIN/LOSS, how to adjust it ?

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3 Replies
Expert Alumni
Mar 15, 2025 4:46:59 PM

You would enter the wash sale amount in Box 1G that was reported to you by your broker.  The adjustment code for wash sales is just a "W". You would need to select that code and then proceed through the remaining questions.

 

Here's more info on Entering Wash Sales. 

 

@dedhia-jyoti 

New Member
Mar 16, 2025 5:12:54 AM

The question is not about how to enter the wash sale. I uploaded the 1099-B into Turbo-Tax from Fidelity. it is picking up this 1g amount, but next to it is a net amount, which is not picked up by Turbo-Tax. (May be Fidelity should not have mentioned anything in 1g, if in that 30 days+- period, there is no activity and wash sale is net loss.) for now, I am removing this 1g amount in turbo tax by editing it. Do not know if that is the right way of doing it.

Expert Alumni
Mar 26, 2025 12:09:56 PM

Does the amount that you removed appear to be the basis of the investment adjusted by the amount of the wash sale?