How do I adjust cost for a Wash Sale

marklandes

Bought 30 shares at $41.40 on 8/2/18.
Sold 20 shares at $30.13 on 5/8/20
Bought 10 shares at $28.30 on 5/15/20
Quicken shows 10 shares at 41.40 and 10 shares at 28.3
Broker shows 10 shares at 41.40 and 10 shares at 39.57 (Price adjusted for Wash Sale)

q_lurker

This should do it:

• Enter transaction button
• Remove Shares / 10 shares / specify lot / Memo = Wash Sale Adjustment
• Add Shares / 10 shares / price/share = 39.57 / Memo = Wash Sale Adjustment / Date Acquired = 5/15/2020
• Both transactions dated 5/15/2020 

Be more specific on the memo as you choose.

q_lurker

This should do it:

• Enter transaction button
• Remove Shares / 10 shares / specify lot / Memo = Wash Sale Adjustment
• Add Shares / 10 shares / price/share = 39.57 / Memo = Wash Sale Adjustment / Date Acquired = 5/15/2020
• Both transactions dated 5/15/2020 

Be more specific on the memo as you choose.

marklandes

Thank you :)

Tom Young

What that doesn't do, however, is reverse the capital  loss within Quicken.  There's no simple way of doing that so just remember to ignore that loss come tax time.

marklandes

Yes, true but the $ amount is not significant in this case and for taxes I send out all 1099's to outside accountant.