I took a $4k loss on a security. Within a few days, I bought a few shares ($10) just to track the stock.
The $10 shares should only partially wash out the $4k loss. Does TurboTax recognize this? Or with their software, does the $10 purchase wash out the entire $4k loss?
Or is there a way to manually input partial wash sales?
You'll need to sign in or create an account to connect with an expert.
Assuming the sale and purchase were done through the same broker the broker will address the wash sale on the Form 1099-B. The 1099-B should have a code of "W" in Box 1f and a dollar amount in Box 1g. You simply enter the 1099-B as it reads into TurboTax and that should take care of it.
The dollar amount should be: (few shares bought/number of shares sold) x $4K.
Tom Young
Assuming the sale and purchase were done through the same broker the broker will address the wash sale on the Form 1099-B. The 1099-B should have a code of "W" in Box 1f and a dollar amount in Box 1g. You simply enter the 1099-B as it reads into TurboTax and that should take care of it.
The dollar amount should be: (few shares bought/number of shares sold) x $4K.
Tom Young
If you make manual entries click this box ...
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cbward
New Member
Keppy
Level 1
Tax_payer03
Level 1
riogrande
New Member
dlj56
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.