How can not have to enter each stock sale item when there is wash sales and the 1099-B has 25 pages of data?

Forum|Forum|6 years ago
December 7, 2019
2 replies
21 views

Do I have to enter each sale if wash sales are shown on the 1099-B or can I enter the totals of all the sales?

ProSeries Basic

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Best answer by sjrcpa

You can enter totals - St covered, LT covered, ST noncovered, LT noncovered,'ST not on 1099-B and LT not on 1099-B,. Then attach the 25 pages of detail as a pdf (you're not required to attach detailes for the covered transactions unless they are wash sales).

sjrcpaAnswer

Level 15

You can enter totals - St covered, LT covered, ST noncovered, LT noncovered,'ST not on 1099-B and LT not on 1099-B,. Then attach the 25 pages of detail as a pdf (you're not required to attach detailes for the covered transactions unless they are wash sales).

The more I know the more I don’t know.

K

kpscpa

Level 3

When entering summary what sale date should you enter

M

Mjoseph

Level 2

Can someone clarify? If all of the stock sales are short term and reported to the IRS but there are a few wash sales, you can still combine all of the short term - covered sales but you have to attach the statement because of the wash. Is that correct? Also would you have to manually adjust the gain/loss so that it does not include the wash sale losses?

J

JWM

Level 4

Yes, how do you account for the wash sales? adjust cost and simply attach the 8949 / 1099-B?

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