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What is the statement that is to be attached to info from 1099-B (Investment Income/loss)?

Using the interview method in TurboTax, I entered information from Form 1099-B: short term (Box A checked covered) and long term (Box D checked covered) covered totals. The form for the long term transactions included $90 with superscript W in column 1g. I don't understand the implications of the wash sale loss, but it appears that this small number will affect my ability to complete the tax return using TurboTax.

In particular I don't know what statement I am supposed to send to the IRS.  TurboTax supplies the address where to send this statement, but not what is the statement supposed to contain. I suspect that this is related to the wash sale loss, since I have never encountered this issue in the many years I have been using the TurboTax. Any help would be greatly appreciated.

Marie
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New Member

What is the statement that is to be attached to info from 1099-B (Investment Income/loss)?

A wash sale occurs when you sell a stock at a loss, and then buy it again within a 30-day period.  (Even if you didn't initiate the sale, it can happen when fund shares are sold and then dividends are reinvested less than 30 days later.) The loss is disallowed and added to the basis of the new stock purchased.  Look in the detail section of your 1099B to find which sale has the $90 Wash connected to it - that is the page(s) you need to send to the IRS.  Put your name and SS# at the top of that page and attach it to Form 8453 (Turbo Tax will have that as part of your return).  To be safe, you could attach a copy of the entire 1099B to the 8453.
New Member

What is the statement that is to be attached to info from 1099-B (Investment Income/loss)?

TaxLady, thank you very much for the clear answer.  -Marie