topic Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering individual sales) Do I use Adjustment to cost basis? in Investors & landlords

Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering individual sales) Do I use Adjustment to cost basis?

cjwclw — Mon, 15 Mar 2021 01:41:49 GMT

Investment sales are too many to enter individually. The online info doesn't seem to work with Summary. Help! This is my first time using TurboTax.

Re: Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering...

DavidD66 — Mon, 15 Mar 2021 02:02:41 GMT

Yes, you enter the wash sale as an Adjustment. After entering the summary totals, check the box for "I need to adjust my total cost basis". Enter the amount of the Wash Sale Adjustment, and mark the box W, (nondeductible loss from a wash sale).

Re: Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering...

fanfare — Mon, 15 Mar 2021 02:40:01 GMT

@DavidD66

your answer is incorrect.

poster want to use the summary method.

@cjwclw

after entering the basic summary, it ask you if you have any adjustments (or other).

Say YES and the box for total adjustments should appear.

Re: Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering...

zxg3900 — Wed, 14 Feb 2024 19:54:37 GMT

Is wash sale adjustment available in Deluxe desktop version?

Re: Where do I enter wash sale loss disallowed in Summary Investment Sales Section? (not entering...

AbrahamT — Wed, 14 Feb 2024 21:30:16 GMT

Yes it is. See here

Further up on this page, you will checkmark I need to adjust my total cost basis