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Prunka
New Member

Where do I post wash sales?

where do I enter wash sale information?
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5 Replies

Where do I post wash sales?

in the 1099-B worksheet where the sale is reported.  this info will usually be shown by the broker on the 1099-B. there can be exceptions due to multiple accounts, loss in a taxable investment a/c, and repurchase in a tax-deferred a/c such as an IRA during the wash sale period. 

Where do I post wash sales?

all your wash sale info is on the consolidated 1099-B fro your broker.

This is required by IRS.

Import your 1099-B, if it is not too large, you will be done.

Prunka
New Member

Where do I post wash sales?

Thanks, do you know wWhere do I post this info on turbotax?

Prunka

Prunka
New Member

Where do I post wash sales?

I am not able to upload mu 1099-B, do you know where I would manually post wash sale iformatio

Thanks

Where do I post wash sales?

As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.
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If you have wash sales, it gets more complicated since those adjusted transactions have to be itemized on Form 8949 and the summary totals adjusted accordingly.

Enter the wash sales on Form 8949, then use the subtotal results on the bottom of that form (Line 2) to know how much to subtract which gives you the Schedule D line1a totals. Be sure to NOT check the adjustments box in the summary window.
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Alternatively, if entry of Wash Sales is too tedious,
summarize and check the box for adjustments and enter the disallowed amount.
This summary will go on Schedule D Line 1b.
You will be making the mail-in election.

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