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Question re dates on 1099-B

Pilgrim51 — Sun, 13 Apr 2025 15:44:43 GMT

I am getting "error needs review" messages regarding a stock sale reported by Goldman Sachs on my 2024 1099-B. This is a "wash sale." The 1099-B shows a "date acquired" of 12/22/2023, and "date sold" of 7/30/2020. I get an error message that the "date acquired" must be after the "date sold." Per previous posts, I'm guessing this is some sort of "put" option, so I reversed the dates.

Now, however, I get an error message that the "date sold" must be in the tax year (i.e., 2024).

How do I get around this, when I am just trying to enter the dates that Goldman Sachs reported on their 1099-B?

Re: Question re dates on 1099-B

baldietax — Sun, 13 Apr 2025 18:39:43 GMT

Sounds like a short put from a put spread, sold short on 7/30/20 ('date sold') and then bought back (or expired) on 12/22/23 ('date acquired'). Not sure how GS is reporting it but you would enter it with date acquired in 2023 and date sold in 2020. And normally that would be fine if the short was opened and closed in the current tax year, but this one was opened in a different year. TT doesn't handle shorts and this situation well I think.

But the other issue is really the wash sale across years which may affect how you handle this anyway - this position was closed in 2023 and is being included on your 1099-B for 2024 presumably because of a purchase in 2024 that reclassified it as a wash sale? How was it reported already on your 2023 taxes? What gain/loss is being reported on your 2024 1099-B? Do you see a cost basis adjustment for the purchase that triggered the wash sale? I am wondering if this even needs to be reported for 2024, but may affect your taxes for 2023 if it wasn't identified as a wash sale in your 1099-B for 2023.

Not a CPA/Expert and never encountered this situation but just wanted to share some thoughts.

Re: Question re dates on 1099-B

Pilgrim51 — Mon, 14 Apr 2025 17:41:54 GMT

Thanks for the reply. The 2023 transactions reported on the 2023 1099-B were all sales (no puts/options) and were all gains. It does not look like this put/option transaction was reported in 2023.

I couldn't tell from the 2024 1099-B whether there were in any purchases in early 2024 that would make this transaction a wash. Also, there were no cost basis adjustments on the 1099-Bs.

The 2024 1099-B shows the "gain/loss" for this transaction as 0. The "wash" amount is the difference between the proceeds and cost. So it looks like I can just delete this transaction.

(Oddly, there were three other "zero proceeds/negative sales" transactions on my 2024 1099-B with a "date acquired of 7/30/2020, and a "date sold" in 12/2023, but Turbotax is not flagging these as errors as not being within the tax year. Maybe it's because the 1099-B shows the proceeds for these transactions as 0, so Turbotax is just ignoring them. For what it's worth, the number of shares in these transactions does not match up with the shares in the put/option transaction.)