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Form 8949 Only Showing Wash Sales
When I preview my Form 8949 on the Desktop Version of TurboTax, it is only listing my wash sale transactions and not all my other trades. In prior years, it has always listed all of my trades on Form 8949. How do I fix this? The imported data is clean and only the trades that should be marked as wash sales are labeled as such.
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Form 8949 Only Showing Wash Sales
Looks like TurboTax might only be reporting Wash Sales and Non Covered Securities transactions on Form 8949 this year. Here is their logic....
"Also, just like the Schedule D, there are two sections that cover your long-term and short-term transactions on Form 8949. You then compute the total gain or loss for each category and transfer those amounts to your Schedule D and then to your 1040.
There are two exceptions to having to include transactions on Form 8949 that pertain to individuals and most small businesses:
- Taxpayers can attach a separate statement with the transaction details in a format that meets the requirements of Form 8949.
- Taxpayers can omit transactions from Form 8949 if:
- They received a Form 1099-B that shows that the cost basis was reported to the IRS, and
- the form does not show a non-deductible wash sale loss or adjustments to the basis, gain or loss, or to the type of gain or loss (short term or long term).
If one of the exceptions applies, then the transactions can be summarized into short-term and long-term and reported directly on Schedule D without using Form 8949."
- Mark as New
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Form 8949 Only Showing Wash Sales
Looks like TurboTax might only be reporting Wash Sales and Non Covered Securities transactions on Form 8949 this year. Here is their logic....
"Also, just like the Schedule D, there are two sections that cover your long-term and short-term transactions on Form 8949. You then compute the total gain or loss for each category and transfer those amounts to your Schedule D and then to your 1040.
There are two exceptions to having to include transactions on Form 8949 that pertain to individuals and most small businesses:
- Taxpayers can attach a separate statement with the transaction details in a format that meets the requirements of Form 8949.
- Taxpayers can omit transactions from Form 8949 if:
- They received a Form 1099-B that shows that the cost basis was reported to the IRS, and
- the form does not show a non-deductible wash sale loss or adjustments to the basis, gain or loss, or to the type of gain or loss (short term or long term).
If one of the exceptions applies, then the transactions can be summarized into short-term and long-term and reported directly on Schedule D without using Form 8949."