Search results

Should it be Nov./Dec. to figure out wash sales in that year and trade again to get rid of them in the same year? Feb/April is too late for the previous year’s wash sales.

2021 1099-B won’t be available until like Feb. 2022, which is too late. I think you can look at your trading history/transactions in Nov.-Dec. 2021 to see if there are any disallowed losses and trade those stocks with disallowed losses in 2021 to get rid of wash sales.

In my other thread, I said it’s because I traded the same stocks in Jan. 2022 (within 30 days of Dec. 2021 trades) to trigger the wash sale rule. Does that make sense?

Can you elaborate more on this?

I think the simplest way is direct downloading of 1099-B into TurboTax and it will do everything automatically.

TurboTax can import 1099-B directly from the brokerage website and do the tax filing electronically. Technology rocks. :D It’s only a click on my side. ;)

The problem with 3 is I day traded hundreds if not thousands of times in 2021. The 1099-B is 223 pages. LOL

I meant with wash sale disallowed losses, can I still just download 1099-B into TurboTax? Do I have to do anything else to deal with the wash sale stuff? Last year I downloaded 1099-B directly into TurboTax with no problems.

Thanks easymon1! For confirmation, I can download 1099B into TurboTax?

Now with the disallowed losses on my 1099-B, can I still import my 1099-B into TurboTax for tax filing?

I think I figured it out now. If during Jan. 2022 I traded the same stocks that I traded in Dec. 2021, that would trigger wash sale disallowed losses for 2021. However, I should be able to realize the disallowed losses in 2022. The losses will be realized in the subsequent year, postponed to...

But what do I do with the disallowed losses? Trade them again to realize the losses? But still the key question is how can wash sales happen for day trading, where all positions are closed by the end of each day? For example, I traded QQQ multiple times during the day with wins and losses. But...

I just started a new thread about wash sale disallowed losses in day trading. Since I closed out all my positions before the end of 2021, why are there still disallowed losses in my 1099-B?

Hi, I got the 1099-B from my broker for 2021. There are some disallowed losses due to wash sales. I only do day trading so I am flat at the end of each day. So why are there wash sales? What do I do with the disallowed losses? The 1099-B shows my total short term gains are more than the actual...

So what do you say about the greatest democracy in bed with a murderous dictatorship doing billions of arms deal? You conveniently left out the embarrassing facts like a cowardly hypocrite.

No point to discuss further with people with such low intelligence and so much bias. My point is very clear if you can comprehend anything more than a plain yes or no. American law is not applied fairly and equally. Just read my examples and I am not going to repeat it. Even the best law if it...

You constantly play the language and words game, which I could care less about and not even bother to argue, because you purposely turn a blind eye to inconvenient facts and truth. You refused to talk about those unprosecuted bigger crimes and fraud committed in the US that caused the 2008 world...

Haha how funny with hypocrites like you! US does not interfere with other countries’ internal affairs? LOL Saddam killed his own people but US invaded Iraq. So what US law did Saddam break against US citizens? Now Saudi Arabia killed its own citizen, who is a US permanent resident living in...

I am not saying the Chinese system/government is any good. That’s why I left the country 30 years ago. But the US has also disappointed me more and more, once the superficial fairness and righteousness wore off. It’s no utopia and plays even dirtier tricks all the time.

You have typical selective reading/comprehension. The US airplane landed on a Chinese island and it was a spy plane. What would the US do to a foreign spy plane landing on its soil? The formal charge to the Huawei CFO is bank fraud. Did you read and understand it at all? Talking about bank...