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February 23, 2023
Question

Wash sales trading same security throughout the year

  • February 23, 2023
  • 1 reply
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I trade the same security all year long (probably more like years). I know I didn't gain much in 2022 but 1099B shows all gain and little losses because of wash sales. Do I need to sell security and not buy back for 31 days to capture the losses in 2023? Does turbo tax keep track of this or would it just show up in my 2023 1099B?

1 reply

February 24, 2023

to realize those losses you would need to sell the security and then avoid buying it or a substantially identical security for the next 31 days to avoid creating another wash sale. the broker will handle the reporting.