on the sale of mutual funds that has a wash sales loss disallowed can you reduce the cost by the wash sale disallowed and report that cost basis on the form 8949 reporting exceptions transactions. I have one wash sale of $3.00.
Pro Series Basic Instead of listing evry transaction on 8949 I want to just decrease the cost basis by the amount of the disallowed wash sale and report totals only bypassing reporting individual transactions.
Are you trying to avoid the 8949? I have been known to keep it just on Schedule D by adjusting the cost basis so the result is correct, but I don't brag about it.
Okay, I have to ask. I'm old and I don't know. What is "CAGMC"? I tried to do a search but all I could come up with is "Community Action for Greater Middlesex County". I searched my Federal Tax Handbook and the Internal Revenue Manual but couldn't find it there either. Is it an acronym for some new tax credit I'm not giving my clients?
For those that are relatively new to the community, you can credit Chuck Warman for the saying. Chuck was a cantankerous old coot that was one of the original AllStars and went by the stage name here as Archie Leach aka the grammar nazi. Chuck was killed in a car accident in a little Miata that he had recently purchased ------------ a car he loved to drive. It seems like we just lost him yesterday but it has been 7 years already. This place lost a lot with his passing. A lot of knowledge and a lot of humor. I know I speak for the original AllStars when I say that we all miss him.
