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October 11, 2024
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Got Etrade/MS 1099-B with accrued market discount and non-deductible loss from wash sale Used the summary reporting method to enter investment sales. Where do I enter these Accrued market discount values and non-deductible loss from wash sale in TT

  • October 11, 2024
  • 1 reply
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TT users/experts,

 

I got an Etrade/Morgan Stanley 1099-B with accrued market discount (box 1f

)  and non-deductible loss from wash sale (box 1g) with multiple bonds maturing.

I used the summary reporting method to enter investment sales in turbo tax i.e Short Term (box A/B) and Long Term (box D/E)

 

In Turbo Tax, should I add the accrued market discount total to the non-deductible loss from wash sale to Total adjustment to gain(or loss ) box under the "I need to adjust my total cost basis" box with D (accrued market discount) box checked and

check box for non-deductible loss from wash sale (W)

 

Thanks a lot, in advance.

    Best answer by Mike9241

    the total of the market discount and wash sale go in the adjustment column (g) on form 8949 with codes D and W in column (f)

     

    1 reply

    Employee
    October 11, 2024
    No text available
    Mike9241Answer
    October 11, 2024

    the total of the market discount and wash sale go in the adjustment column (g) on form 8949 with codes D and W in column (f)

     

    vickapAuthor
    October 14, 2024

    Thanks.

    I added the values for Nondeductible loss from Wash sale  (W) and Accrued market discount (D) and put it in Total adjustment to gain (or loss box) as a negative number.

     

    I will be sending my 8949 form along with the 1099-B statements from my brokerage for the details on the Nondeductible loss from Wash sale  (W) and Accrued market discount (D) transactions.