How to enter Wash Sale Details accurately

cspfire2024 — Mon, 05 Apr 2021 15:58:42 GMT

Hello Experts,

I have couple of transactions with Wash Sale, I am wondering if you could please help me with entering the details correctly.

1. First step would be to make the first transactions which resulted in loss as wash sale.

2. Second, in the next transaction, add the loss from #1 above to this transaction cost base.

For example, let's say - Wash Sale loss is $5000.

The actual Cost Basis for #2 above is $25,000.

Should I just enter $30,000 as cost basis for second transaction?

I just want to add that the broker didn't account for this Wash Sale since #1 was an RSU transaction, and the broker didn't include the Cost Basis in the statement.

Please help.

Thanks.

Re: How to enter Wash Sale Details accurately

DianeW777 — Tue, 06 Apr 2021 13:19:32 GMT

Yes. Any wash sale loss that was disallowed (not used to offset other gains) is added to the cost basis of the original shares once all shares involved in the wash sale are disposed of (sold), and there is no repurchased with in the 60 day window (30 days before or 30 days after the sale),

topic How to enter Wash Sale Details accurately in Get your taxes done using TurboTax

How to enter Wash Sale Details accurately

Re: How to enter Wash Sale Details accurately