Question

My 1099 lists a wash sale disallowed with a negative gain. Turbo tax sets the gain to $0 causing my Total Gain to be too high vs my 1099. How do I correct this in TT?

Forum|Forum|6 years ago
March 15, 2020
2 replies
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TurboTax Self Employed Online

fanfare

Employee

Enter the 1099-B as supplied by your broker.

fanfare

Employee

If the adjustment is truly less than your basis, that means you bought a smaller number of identical shares to trigger a partial wash sale.

Nothing unusual about that.

A

Anonymous

wash sales occur when you sell a stock at a loss then 30 days before or after the date of the loss sale you acquire substantially identical securities. these losses are not deductible. the loss gets added to the basis of the replacement shares.

doesn't the 1099-B have a column or line that lists the amount as wash sale loss disallowed? .

My 1099 lists a wash sale disallowed with a negative gain. Turbo tax sets the gain to $0 causing my Total Gain to be too high vs my 1099. How do I correct this in TT?

2 replies

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