I downloaded my 1099 B. It contains a couple of transactions that are wash sales. The review indicates that when a wash sale is disallowed there should not be a letter code and that I can remove it. It does not let me do that. Additionally, if I attempt to remove the transactions from the download it won't allow that eighter. Evidently, you cannot edit a 1099B that has been downloaded. I spoke to TurboTax, and they did not have an answer and basically indicated that is just the way it is. the work around was I had to enter the transactions manually. This is not an ideal solution and takes too much time. They don't care!!
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? according to 8949 instructions there should be code w for a wash sale if there is an amount in the adjustment column. on the other hand, if you dispose of a security in a fully taxable transaction that had its basis adjusted by a previous wash sale, there would be no adjustment so no code W.
per 8949 instructions
You have a nondeductible loss from a wash sale
use Code W
Report the sale or exchange on Form 8949 and enter the amount of the nondeductible loss as a positive number in column (g). See the Schedule D instructions for more information about wash sales generally and Pub. 550 for more information on wash sales involving substantially similar stock or securities. If you received a Form 1099-B (or substitute statement) and the amount of nondeductible wash sale loss shown in box 1g is incorrect, enter the correct amount of the nondeductible loss as a positive number in column (g). If the amount of the nondeductible loss is less than the amount shown on Form 1099-B (or substitute statement), attach a statement explaining the difference. If no part of the loss is a nondeductible loss from a wash sale transaction, enter -0- in column (g).
It would be nice if my post was read. I know what to do. TurboTax won't let me make any changes. I assume it has something to do with being downloaded from the brokerage
You can edit your transactions. What kind of problem are you having?
How do I update or delete something I imported into TurboTax?
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