I had a wash sale where the replacement shares were purchased in my IRA, but the shares sold at a loss were in my taxable account so the broker did not show them as wash sales on my 1099-B.
I have three sections to the report for this account: short term (basis reported to IRS); long term (basis reported to IRS); long term (basis not reported to IRS).
The transactions that are wash sales are in the short term (basis reported to IRS). I think I need to report every transaction from this section, including the wash sale transactions, individually on my form. I would mark the lines for wash sale and enter the rest normally.
The long term (basis reported to IRS) does not have any issues, so I should be able to just enter the summary totals and not list individual transactions.
The long term (basis not reported to IRS) has to have each transaction entered individually and cannot be entered as a summary total.
Does this sound correct?
I guess the main question is whether I can do the short term item by item and then do the long term (basis reported to IRS) as a summary, when both are from the same account.
I have three sections to the report for this account: short term (basis reported to IRS); long term (basis reported to IRS); long term (basis not reported to IRS).
The transactions that are wash sales are in the short term (basis reported to IRS). I think I need to report every transaction from this section, including the wash sale transactions, individually on my form. I would mark the lines for wash sale and enter the rest normally.
The long term (basis reported to IRS) does not have any issues, so I should be able to just enter the summary totals and not list individual transactions.
The long term (basis not reported to IRS) has to have each transaction entered individually and cannot be entered as a summary total.
Does this sound correct?
I guess the main question is whether I can do the short term item by item and then do the long term (basis reported to IRS) as a summary, when both are from the same account.