PA stock transactions

mby1015 — Tue, 20 Feb 2024 22:24:01 GMT

In case helpful to others, talked to one of the experts on the phone and said to ignore this message. Note TT adjusts trades automatically for the wash sale rules and the message suggests several things that the user doesn't have to deal with.

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Gain and Loss Summary
Here's a list of your capital gains and losses. You can edit (change) these gains and losses to enter required PA information.
To edit the description, or add/delete a gain or loss, go back to the federal topic for investment income.

Note: Pennsylvania residents should note that Pennsylvania does not follow federal Wash Sale rules for
losses. If your sale is subject to federal wash sale rules and you incurred a loss, your basis for
federal purposes is not the same as your Pennsylvania basis. Separate records must be kept for
your Pennsylvania basis for securities purchased under the federal Wash Sale rules. Effective
for transactions on or after January 1, 2023 Pennsylvania conforms to the
federal tax treatment of deferring gains (loss) on like-kind exchanges under
IRC Section 1031.

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PA stock transactions