Wash sale reporting

16 replies
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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.

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BobKammanAnswer

Level 15

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.

F

Frustrated-in-IL

Level 8

Are you looking for TurboTax support?

D

DDOGAuthor

Level 2

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.

Skylane

Intuit Community Champion

Assuming the same or similar workflow as PS Pro....

summarize the transactions; code A - Code F and make an adjustment for the wash sale, then attach 8949 as a pdf to the e-file.

If at first you don’t succeed…..find a workaround

BobKammanAnswer

Level 15

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.

D

DDOGAuthor

Level 2

Yes that is exactly what I am trying to do. I like your answer. Thanks for the response

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