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drtgs
New Member

1099B

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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3 Replies

1099B

?  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).

drtgs
New Member

1099B

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 

DawnC
Employee Tax Expert

1099B

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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