Update to this year’s IB and Turbo tax wash sale import fiasco. Last year I was able to go to the step by step mode and easily input a W for the wash sales that turbo tax will not pick up with the IB import. Well this year I was not able to get to that area, Intuit did not have a clue. So the work around was simple and a little more time consuming. Just run the review and Turbo tax will show all the wash sale trades as errors, all you then need to do is input the “W” in the drop down menu for each trade. After you do one of these I found that when I went back to the step by step , by some miracle another screen popped up where I could input the wash sales. Considering I had 180 Wash sales on the SQQQ totaling $228,000 I was not very happy when the solution I had last year would not work this year. By dumb luck I googled this and found that running the review and then getting the error messages will allow you to fix the Wash Sale problem .
Turbo Tax and Interactive Brokers TXF file import - Wash sales.
- Thread starter musicman
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rmorse
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Hmmm I just clicked on each transaction and was able to manually set it as a W. Although I only had about 15 wash sales to deal with. Good to know for future reference.
Hi, when you say another screen popped up, do you mean one screen with all 180 of your adjustments, or you had to go into each transaction individually. If one screen for all, do you get it after clicking Continue on the page that shows all the transactions?
For me, the review method works, but I have to fix each one by one. When I go back to step-by-step, click on Edit for the IB record, I see all my transactions. When I hit Continue, it just brings me back to the summary IB record.
I have 300 adjustments to make, so there is no way to do it one by one in the review step.
p.s: Btw, this worked for me last year on its own. I did not have this issue last year.
TIA