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Level 3
March 31, 2026
Question

The Schedule D is not footing correctly when wash sale and accrued market discount codes are used together

  • March 31, 2026
  • 2 replies
  • 11 views

When I entered a long-term covered transaction that had both a wash sale adjustment and an accrued market discount adjustments, the Schedule D would not foot correctly and is dropping the wash sale adjustment from the total at the bottom of Schedule D, page 1, Line 15.  

 

2 replies

Accountant-Man
Level 13
April 1, 2026

Pro Series ignores any entry for accrued market discount adjustment.

** I'm still a champion... of the world! Even without The Lounge.
Level 10
April 1, 2026

Pro Series or Lacerte?

I had that issue last week. I thought the Market discount was more important both for presentation and for tax accuracy, so I removed the wash sale because it was small, <$100. I don't care, my client doesn't care, and I doubt the IRS cares.