Wash Sales

[CTC]

I was able to import all of the transactions, but it appears that I need to change the basis on a few in order to account for some of the wash sales that could be used after 31 days. Some of the transactions should be able to use some of the basis affected by the wash sales. I though PTO would have calculated this but it doesn't seem to. Maybe there is something I need to mark to ensure it happens?

Everything matches the 1099-B.

Any ideas?

[George4Tacks]

Are you certain that the brokerage statement that you imported did not already make the wash sale adjustments?

[CTC]

At the bottom of the Fidelity statement it says:

Cost or other basis provided may include adjustments including, but not limited to, dividend reinvestment, return of capital/principal, wash sale loss disallowed, amortization, accretion, acquisition
premium, bond premium, market discount, market premium, and option premium.

Maybe I'm reading too much into it. It says MAY, so it could be either way.

Thanks,

Melissa

[George4Tacks · Accepted solution]

So you are saying that you may need to adjust the Wash Sales because Fidelity may not have kept the books well. Do you really want to take responsibility for adjusting what a major financial brokerage gives as a full account of all the trades? Are you going to look into a sale of a mutual fund in November that gets a dividend in December that reinvests and creates a wash sale? 

I know I don't charge nearly enough to try to take on that job.

Just sayin!

[CTC]

Thanks for the answer.

When you put it that way it makes sense and saves a lot of time.

As they say "time is money" and I never have enough of either!