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arlessk
New Member

Where do I report wash sales amounts that were disallowed?

I have a brokerage account that was not auto-imported. The Net Loss that the Form 1099 reports shows my loss as being reduced by the amount of the disallowed Wash Sale Total. The Turbo Tax for only allows me to enter the Total Proceeds and the Total Cost Basis. There is nowhere to enter the Disallowed Wash Sale Total. The result of this is to make my Net Loss appear larger than I think it should be.
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1 Reply

Where do I report wash sales amounts that were disallowed?

if you are inputting as a sales summary there is a checkbox for "I need to adjust my total cost basis" and you can enter it there

 

But, entering wash sales as sales summaries will trigger a need to mail your 1099-B to the IRS.

 

The better approach is to enter these as "one by one" sales with all the details, there will be a checkbox "I have other boxes on my 1099‑B to enter" and you can just enter the details in the boxes as shown on your 1099-B

 

You also don't need to enter everything as one by one just the sales items with adjustments, and then rest you can put as a sales summary

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