Form 8949 : I have a Short Term POSITIVE Gain with Wash Code

[BrotherBeijing]

So In Column 'g' should I enter -123.45 for example. For losses I would enter positive 123.45 values.

 

[Taxing Matters]

So In Column 'g' should I enter -123.45 for example. For losses I would enter positive 123.45 values.

It's not clear what the transaction is that you wish to report, and that matters. If the transaction resulted in a gain then generally there should be no wash sale adjustment. But without knowing what happened here all I can do is refer you to the Form 8949 instructions. Note that when you enter in negative numbers on a return, you use parentheses, e.g. (123.45) rather than a negative sign as you used. In other words, do not enter a negative value as -123.45.

 

[FlyingRon]

Yep, you're free to wash gains all you want. The IRS loves you to pay taxes early and often Their a little more reticent to let you take deductions when you really haven't disposed of the asset. I pretty much washed my entire portfolio a few years back when they were talking about raising the LT capital gains tax. It came down to the last day of the year before they made the decision.