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posted Mar 10, 2023 9:01:18 AM

How do I handle a wash sale if it involves two unrelated brokerage accounts? The first will issue a 1099 showing a loss; the other has no visibility to the sale.

The sell / buy of the mutual fund was done on the same day.

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2 Replies
Level 15
Mar 10, 2023 9:04:30 AM

you'll have to do it manually. neither the brokerages nor Turbotax can do this.

Expert Alumni
Mar 10, 2023 7:58:19 PM

Enter your sales manually as Tax Champ Mike9241. In answering your question, I’m assuming your first sale with Form 1099B will show a loss without a wash sale.

 

When you enter your transaction, check the box The cost basis is incorrect or missing on my 1099-B.

 

On the screen, “We noticed there's an issue with your cost basis...Let us know if you'd like to make any changes” choose I know my cost basis and need to make an adjustment

 

Enter your cost minus your wash sale.

 

In your second transaction, if you do not have a 1099-B, enter the correct cost basis with the wash sale amount. If the second sale is reported on Form 1099-B, repeat the process with your first transaction, but add back the wash sale amount.