USGrant1962
Thinks s/he gets paid by the post
I realized I accidentally did a small wash sale between taxable (sale) and IRA (purchase). I sold some ultra-short bonds (VUSFX) in taxable to finance iBond purchases, and totally unrelated* but within 30 days, exchanged my intermediate bonds for VUSFX in an IRA. The loss was only a few hundred dollars, so not really material. But I have two questions:
1. When I import the 1099 from Vanguard Brokerage into tax software it will include proceeds, basis, and calculated loss. How do I designate a wash sale and disallow the loss without making my return mismatch the 1099? Is there usually a checkbox or something in tax software?
2. How does the IRS track the IRA wash sale rule? AFAIK there is no reporting of individual sales/purchases within an IRA.
*well, it is all related to 7% inflation vs ~2% nominal bonds.
1. When I import the 1099 from Vanguard Brokerage into tax software it will include proceeds, basis, and calculated loss. How do I designate a wash sale and disallow the loss without making my return mismatch the 1099? Is there usually a checkbox or something in tax software?
2. How does the IRS track the IRA wash sale rule? AFAIK there is no reporting of individual sales/purchases within an IRA.
*well, it is all related to 7% inflation vs ~2% nominal bonds.