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t1ll3rman
New Member

If there is a "W" in box f on form 8949 Part II, what does the "W" mean?

Should shares in a stock. Received 1099-B from my financial institution. When transferred into TT, form 8949 showed a "W" in box (f). Box (g) has a number in it and box (h) showed a loss. Is there something I need to add (amend) to my federal tax?

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If there is a "W" in box f on form 8949 Part II, what does the "W" mean?

A "W" means a wash sale, and the loss on that sale is not being allowed.

The loss not allowed needs to be added to the basis on the stock that was purchased that is similar or same stock. 

https://ttlc.intuit.com/replies/3301715

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3 Replies

If there is a "W" in box f on form 8949 Part II, what does the "W" mean?

The reporting is PROBABLY OK, but you should be able to check and see.  The fact that there's a number in the adjustment column but you still have a loss suggests that the number of "replacement shares" you acquired was less than the number of shares you sold, allowing a partial recognition of the loss.  

Figure your "real" loss based on Proceeds minus Cost.  Determine the number of replacement shares acquired in the +/- 30 days from sale date and derive a percentage as (Replacement shares)/(Shares sold).  Multiply that figure times your "real" loss and that should and that should be the amount of the loss that's recognized.
t1ll3rman
New Member

If there is a "W" in box f on form 8949 Part II, what does the "W" mean?

The first paragraph is exactly what happened with the sale.  Thank you very much for the input.

If there is a "W" in box f on form 8949 Part II, what does the "W" mean?

A "W" means a wash sale, and the loss on that sale is not being allowed.

The loss not allowed needs to be added to the basis on the stock that was purchased that is similar or same stock. 

https://ttlc.intuit.com/replies/3301715

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