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    Foil's Avatar
    Foil Posts: 178, Reputation: 4
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    #1

    Apr 9, 2014, 07:44 PM
    Schedule D, Wash sales on Form 8949, and line 13 of Tax Form 1040
    My schedule D says I have a net capital loss. On Form 8949 Sales and Other Dispositions of Capital Assets, in column (f) under adjustment to gain/loss some W's appear, representing wash sales. If wash sales can't be claimed as a loss do I subtract these W's from my total capital loss as indicated on my schedule D? And put that sum on line 13 of Federal tax form 1040?
    OR Put the Net long term capital loss indicated on Schedule D on line 13 of Form1040 without subtracting the wash sales?

    Form 1040 Line 13 reads "Capital gain or (loss). Attach schedule D if required."
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Apr 10, 2014, 08:33 AM
    You DO need to subtract the WASH adjustments.
    Foil's Avatar
    Foil Posts: 178, Reputation: 4
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    #3

    Apr 10, 2014, 01:24 PM
    Thanks for responding. Isn't it already subtracted on form 8949 under columns (f) and (g) adjustment to gain/loss? For example, assuming only part of 25 shares were a wash sale, on form 8949 it looks like the adjustment was already made and I should just use the total in column h on line 13 of form 1040 and line 21 of schedule D. proceeds=868.73, cost/basis=1024.24 the W=126.76 and the loss= 28.75
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Apr 11, 2014, 04:04 PM
    That depends on the software you are using. It is done automatically on most tax software, but not all.

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