Anybody knows if TurboTax premium handles wash sales automatically or if one has to manually do something to take care of such cases? Thanks!
Your stock broker should already take into account your wash sale when they issue the 1099. Mine does. I used Schwab.
It’s possible to have a wash sale across brokerages
Like you buy the same stock in 2 different brokerage accounts and wash sell it only in one of them? If so, then you have to do the homework and enter the correct cost basis.
Usually your broker handles that, at least thats been my experience with Robinhood
Maybe I have overlooked but last year for example for Bitcoin sales one needed to enter things manually in TurboTax. For broker purposes, TurboTax import things automatically but I was not sure if something else was needed
Most of us are pretty far removed from the actual calcs logic and specific SKU features. We promise 100% tax accuracy so my guess is the system supports wash sales.