Capital Gains and Losses

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This is my first time with stocks. I was able to input the…

This is my first...

This is my first time with stocks. I was able to input the 1099 int and the div but could not figure out the 1099b gains and losses. The form said theses were not reported to the IRS and that they are a wash sale. Do I need to send this information to The IRS?

Accountant's Assistant: I love the idea of making big money with investments, but there are so many things that could go wrong. The Accountant will be able to help you. Is there anything else important you think the Accountant should know?

Just do I report awash sale to the IRS

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3/26/2018
bkb1956
bkb1956, Enrolled Agent/Real Estate & Corporate Paralegal
Category: Capital Gains and Losses
Satisfied Customers: 6,401
Experience: 20+ years of experience as a tax preparer; 30+ years of experience as a real estate and corporate paralegal
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Yes. You will report the transactions on your tax return.

If they are wash sales, your losses will be disallowed.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

bkb1956
bkb1956, Enrolled Agent/Real Estate & Corporate Paralegal
Category: Capital Gains and Losses
Satisfied Customers: 6,401
Experience: 20+ years of experience as a tax preparer; 30+ years of experience as a real estate and corporate paralegal
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Gerald, Esq, Attorney
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