Pennsylvania Schedule of Gains/Losses. No idea what to select. These are all transaction made in my post-tax brokerage accounts Help.

[weafrique]

Schedule of Gains/Losses

Enter or verify the following Pennsylvania information for this capital gain/loss or Coverdell ESA distribution.

Note: This record is a summary of transactions transferred from federal. You may have to adjust the Pennsylvania taxable amount.

Description:   LT transactions reported on 1099-B with no adj - see attached statement

Date Acquired: Various   Date Sold: Various   Net Sales Price: 3,395.   Cost Basis: 5,515.

All the transactions are taxable in PA   All the transactions are not taxable in PA   A portion of the transactions are taxable in PA

This asset was acquired before June 1, 1971 and is reported on PA Schedule D-71   This asset was used for both business and personal purposes   This sale requires an adjustment to the basis of the asset

[DianeW777]

Let's review the questions being asked in the Pennsylvania (PA) interview. PA does not always follow the same rules for these sales as the federal return.  Most often they will be the same except that PA does not carryover any capital losses from year to year and they have special rules for property owned before June, 1971. 

First you should have a date of sale even if you pick a date during 2022 if you summarized sales. Various is all right for the date acquired as long as you select the correct sale category/holding period.

If you live in Pennsylvania (PA) all transactions are taxable in PA. You would select the others only if you were a part year resident and some of the sales occurred while living in another state.

Do not check any box that does not apply to you. 

1. If you did not acquire any of the assets before June, 1971 do not check the box. PA has a special calculation for taxable amount when assets are owned prior to that date.
2. This was an investment sale and unless you have a reason to think it is associated with a business you operate do not check the box.
3. If you did not have a sale that would cause a difference in gain or loss for PA do not check this box (an adjustment to the sale for wash sales, or ISOs for example).

If you do not need to to check any of these boxes you should just select continue.

[pzanga]

I'm at the same point in my return and the thing that isn't clear to me is how to deal with wash sales.  It sounds like I would need to check the box "This sale requires an adjustment to the basis of the asset".  But I can find no guidance as to how to actually adjust the basis.

Also, from searching through the forum and elsewhere, it sounds like 1) PA doesn't recognize wash sale losses and 2) the wash sales do not flow into the PA return in Turbotax.  So it's not clear to me if I need to edit the wash sale transactions at all.

I understand what I need to do for the non-wash sales but the guidance is lacking for how to handle the wash sales.

Thanks