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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
Expert Alumni

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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