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RSU Wash Sale on Supplemental - Interface Challenges

RE:   Fidelity Import RSU with Wash Sale Adjustments: WASH SALE 1099-B vs. WASH SALE SUPPLEMENTALTT IMPORT BUG? 

 

For 1099 + Supplemental Information from Fidelity. 

 

TurboTax seems to Import fields from both 1099-B body and the Supplemental Information

 

For instance, the 1099-B body has $0 for wash sale box (1g) - with the Supplemental Information document showing a Wash Sale Disallowed field.

 

TurboTax LOGIC is ODD here.    TT prompts to Enter "Exactly" what is on the 1099-B.   That means $0 Basis and $0 Wash Sale Disallowed.       It then prompts to Correct the Basis (to the Supplement Info).    However, it does NOT prompt to Adjust the Wash Sale Disallowed field. 

 

SO:   Which TurboTax direction do I ignore?

 

I.E. :  Do I leave the Wash Sale Disallowed value (that TT imported NOT from 1099-B but from Supplemental Info) ignoring its 1099-B Exact caution?    or do I zero the Wash Sale field and allow the Fidelity Basis Adjusted to correct the wash sale?

 

Next Question:  Why Match & Import the Wash Sale Disallow field from the Supplemental Info and then force the user to manually import the adjusted basis from it.      What's the logic there?

 

 

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1 Reply

RSU Wash Sale on Supplemental - Interface Challenges

@MonikaK1 

 

TurboTax Desktop 2024 - imports Fidelity supplemental info's Wash Sale Disallowed into fields for actual the 1099-B.      Consumer is prompted to enter "exactly" what is on 1099-B  (which is different than supplemental).    There is then NO prompting to adjust the Wash Sale Disallowed. 

 

Consider vs. the Basis.   The engine imports the 1099-B basis  (including the 0.00 or null for not reported).   Then prompts the user to adjust (code) for the supplemental information basis.    Yet with 2 different Wash Sales fields being in both 1099-B and Supplemental - it directly imports the supplemental.

 

The interview flow prompts should be changed - and the wash sales from the 1099-B imported into the 1099-B with a later prompt to update/adjust. 

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