Welcome Guest. Register Now!  


For 2014 Tax Tips For Year 2014.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-19-2015, 12:53 PM
Junior Member
 
Join Date: Apr 2015
Posts: 1
1099-B question

I got my 1099-B form and need to know how this works
Please see the attach
under gain/lost that $-411.25 is how much I can claim as lost and 684.63 was washed?

then the next line has $-2502.00 and it has 0.00 under Adjustment? what is that 0.00 means? there is no code next to it? doesn't it mean all -2502 can claimed as lost?

Thanks

Attached Images
File Type: jpg stock.jpg (19.2 KB, 4 views)


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 04-21-2015, 12:10 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,227
I got my 1099-B form and need to know how this works
Please see the attach
under gain/lost that $-411.25 is how much I can claim as lost and 684.63 was washed?=====>>> you have a wash sale if you sell stock ONLY at a loss; in your case, your deductible capital loss is only $1814; $2502-$685 and However, the loss does get added to the cost basis of the stock which you purchased within the 30 days so you can take the loss when you sell the newer shares. the disallowed loss subject to wash sale rule is added your basis.


then the next line has $-2502.00 and it has 0.00 under Adjustment? what is that 0.00 means? there is no code next to it? doesn't it mean all -2502 can claimed as lost?========>>no;you could claim only $411 of $1096 loss on 11/24/14 due to wash sale rule;the remaining loss of 685 is added to the cost basis of $34,500 on 12/16/14 and your total loss was 2502;685+1815(1815 is the basis on11/24/14 loss before 685 from wash sale was added to the basis)



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Question about 1099 C cmint Income 1 01-24-2014 01:13 AM
1099 question [email protected] For 2012 0 04-03-2013 10:13 AM
1099-A Question NatalieC Income 0 02-02-2010 05:40 PM
1099 question [email protected] Income 0 01-08-2010 10:24 AM
1099 Question wcaamyg Income 3 02-17-2008 11:24 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning