My 1099-B shows a wash loss sale, but I sold all of that security (and didn't buy more) by March 2020, so can I skip including the WLS? Will that be a flag to the IRS?

[horn03444]

I believe the disallowed WLS was triggered because I bought some stock on 9/16/19, 2/18/20, and 3/11/20, and then sold it all on 3/19/20. Therefore, I bought stock within the 30-day window of the sale. How do I correctly account for this in TurboTax?

[fanfare]

Since you closed out your triggering transaction that caused a disallowed loss,

you recovered that loss for tax purposes.

It is as if the wash sale never happened.

HOWEVER,

That doesn't give you a pass on your disallowed loss reporting.

Transactions with adjustments have to be detailed on Form 8949.

Interestingly enough, the triggering transaction was also adjusted, but that adjustment was not disallowed, so that one has no adjustment reporting requirement. It is listed as a covered transaction without adjustment.

[horn03444]

I see that adjustment for the triggering transaction now - thank you so much! That makes more sense. Do I need to separately enter the first sale (with the disallowed WLS) and the triggering transaction? Or can I put them in a single entry, like the total row for that security in my 1099-B?

Also - sorry to pile another question in, but I have ~30 pages of transactions and I've read the help post that says I can group all my transactions into three sections, however I am having trouble understanding: 

https://ttlc.intuit.com/community/business-taxes/discussion/re-where-do-i-enter-wash-sale-loss-disal...

It sounds like grouping transactions means I will need to mail items to the IRS in addition to e-filing. Is that only in the case of grouping transactions with disallowed wash sale losses, or any type of grouping? For example, I'm hoping I can group short-term and long-term, and then list those with disallowed wash sale losses individually without having to mail anything in.  I've also read conflicting info about whether I'm allowed to group transactions with disallowed WSLs, or if I need to enter each line individually.

There's also different conclusions in the help posts about whether I'd actually need to mail in forms. From this post, it sounds like I could just attach a pdf. Would that apply to any of the summary situations listed above?

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/large-nu[product key ...

[fanfare]

At tax time, you have the option to summarize your activity by Sales Category.

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.

Category A and D are the covered transactions.

IRS calls it aggregating transactions.

TurboTax calls it "entering a summary"

Form 8949 forces you to group your activity according to the Box A-F Sales Category.

This is not really complicated.

Many of the answers on the forum have misinformation.

At tax time, you have the option to summarize your activity by Sales Category.

IRS requires details of all sell transactions to be listed on a Form 8949,
or on your other forms (e.g. consolidated 1099-B) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.(unless you have attached a PDF of the transactions details to your e-Filed return. TurboTax seems to be adding this feature now).
Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary.

If you summarize (recommended),

you only need to supply details of 1099-B covered transactions with adjustments that are not listed on your e-Filed Form 8949. and all non-covered transactions not listed there.

In other words, for active investors, generally this is a list of the Wash Sales.

Note: turboTax may suppress some covered transactions without adjustments. For those, no mailing is required !
--
If you have two pages (for example) of Wash Sales,
use Adobe Reader to print those two pages. That's all you have to mail to the IRS, given that those wash sales are not on your e-Filed form 8949 already.
(you might enter them manually if they are few in number.)

If you were wise enough to avoid wash sales, you won't have to list or mail anything.

[horn03444]

Thank you! I summarized my Box A and Box D transactions. There were disallowed wash sale losses within both these groups, so I used the TT feature to record an adjustment with code W for each summarized entry. I attached the pdf of my entire 1099 statement, which includes details of all transactions that have disallowed wash sale losses.  I have no noncovered transactions. This is all I need to do. Is that correct? If so, wow, that was really not hard at all and thank you for helping me understand. I spent hours trying to figure this out in the forums. 

I bought a Motif portfolio in 2019 and no one warned me about what a tax hell it would create because it auto buys and sells tiny fractional shares. By the time I understood while doing my 2019 taxes, it was too late to avoid for 2020. Rest assured that I have sold this portfolio and am only trading individual stocks infrequently. I hope to never have a disallowed wash sale again!

[fanfare]

That's all you have to do.

[horn03444]

You are the best!