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wash sale

i have a disallowed wash sale, however when entering the information for form 1099-B it doesn't give me the option to enter the was sale (only proceeds and basis)

 

what to do?

 

(turbo tax home and business)

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2 Replies
NicolleR1
Employee Tax Expert

wash sale

See the images below as a reference to enter disallowed wash sale on your 1099-B section 

 

You need to select the box that says "I need to adjust my total cost basis", you will then see section W for wash sale

 

See image below for TurboTax Online 

 

 

 

See Image below for TurboTax Desktop

 

  

 

 

wash sale

putting an adjustment code against a sales summary will trigger a need to mail in 1099-B to the IRS.  The other way to do it is to input the specific wash sale lot as a "one by one" sales item which has all the fields like your 1099-B and this sale will go onto Form 8949; and adjust your sales summary totals to exclude this sale so your Schedule D is then whole.  This should remove the need to mail anything.

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