Wash sale (1040)

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Wash sales are reported on Form 8949 with code W in column (f). To enter a wash sale:

  1. Go to the B&D screen or the Broker screen, both located in the Income folder. Only use the Broker screen for consolidated broker statements.
  2. From the B&D screen, open the Schedule for detail statement. From the Broker screen, open the Proceeds from broker transactions statement.
  3. Complete these fields: TSJ, Type, Desc, Date Acq’d, Date Sold, Sales Price, and Cost/Basis.
  4. In the 8949 Box field, choose code 1, 2, or 3, depending on whether the sale was reported on 1099-B or not and whether basis was reported to the IRS or not.
  5. In the Adj to G/L column, enter the nondeductible loss as a positive amount.
  6. In the Adj Code column, choose W.

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