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Level 2
March 16, 2024
Question

Schedule D on Partnerships with wash sale items does not foot down to line 7 and 15.

  • March 16, 2024
  • 1 reply
  • 4 views

I have a partnership with a wash sale and accrued market discount and although it foots across correctly to column (h), it does not reflect the wash sale in the total on line 7 and 15.  If I remove the accrued market discount,  then it computes correctly.  Anyone else ran into this?  It appears to be a programming issue.

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1 reply

Intuit_Kallana
Level 7
March 17, 2024

Hi, this is correct and not a software issue.  When a wash sale is present that column will not totally correctly pursuant to the IRS instructions to our program.  Short answer, it is due to the affects that the wash sale has on the item being reported.

DJakeAuthor
Level 2
April 7, 2024

My question then becomes why are the wash sales treated differently when there is a market discount present than when there is not a market discount on the same sale?