Yardley CPA Posted March 5, 2014 Report Share Posted March 5, 2014 Can someone provide some assistance. I received a 1099B showing a short term sale of stock as follows: - Proceeds $5000 - Cost Basis $5324 - Wash Sale Loss Disallowed $276 - Not Reported to IRS - -48 - Cost basis adjustment indicator - W How is this input on the 8949 input screen? Is the initial Transaction Type a 1, followed by a W on line (f)? What would the amount of the adjustment be? I never came across this before. Thanks! Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 6, 2014 Report Share Posted March 6, 2014 I want to bump up this post. What I do is to open form 1099B and enter the numbers. As you can see you will have no gain and no loss on this transaction. For testing purposes I would enter proceeds as 6K and see the end result and then I would enter the Proceeds as 4k and also see the results. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted March 6, 2014 Report Share Posted March 6, 2014 On the form 8949, I would show $5000 as proceeds in col d, 5324 as basis in col e, code "w" in col f, the disallowed loss of $276 as a positive number in col g, and the resulting loss that wasn't disallowed of ($48) should end up as the result in col h. To me it look like the "not reported to IRS" means that this was a security where basis was not reported to IRS and should have box B checked. Is that correct? Quote Link to comment Share on other sites More sharing options...
Randall Posted March 6, 2014 Report Share Posted March 6, 2014 I think ATX 8949 input screen has a place to put the adjustment for the wash portion and the gain or loss should come out according to 1099B. Need to use code W. Quote Link to comment Share on other sites More sharing options...
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