I have Turbotax Premier. I imported a 1099-B (into Turbotax) with dozens of transactions from a financial institution. I also downloaded a pdf copy of the 1099-B from the institution. The pdf copy shows two separate transactions for one specific stock symbol. One of those transactions involved a wash sale so it's correct that the two transactions are kept separate. However, in Turbotax I see these two transactions combined into one transaction. Turbotax won't let me add another stock sale into the imported 1099-B. So what I did was add a totally new stock transaction under the same financial institution account number as the imported 1099-B. But now Turbotax is warning me that I'm using the same account number in both cases. Does this matter? And will the IRS care that the wash sale transaction was entered separate from the imported 1099-B transactions? Thanks, Ron
... View more
In 2017, I received a distribution for my daughter's Coverdell ESA. The distribution was used entirely to pay for eligible college expenses (which I can prove), so that's not a problem. The problem is that I can't fully recreate the basis of the distribution. I have custodian/brokerage (etc.) records going back 20 years, but I still have a couple of gaps in between where I don't have any records. I have Form 5498 from various custodians, so that helps. Some of these custodians are no longer in business. Can I just use the Form 5498s that I do have and report that as the basis? Since I used the entire distribution to pay for eligible college expenses, I shouldn't be taxed on the distribution regardless of the true basis. Or what do I do? Thank you.
... View more