I have multiple stock trades on my Form 1099. Can I consolidate and enter them on my Schedule D as one trade for the whole year?
Regarding reporting trades on Form 1099 and Schedule D, you must report each trade separately by either:
- Including each trade on Form 8949, which transfers to Schedule D
- Combining the trades for each short-term or long-term category on your Schedule D. Include a separate attached spreadsheet showing each trade. The spreadsheet must include the same information requested on Schedule D.
There’s an exception. You can aggregate all short-term and all long-term covered transactions and report them as single-line entries directly on Schedule D. A covered transaction is one where your broker provided a 1099-B Form to the IRS that:
- Show acquisition date and basis
- Don’t require any adjustments or codes
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Generally, a wash sale is what occurs when you sell securities at a loss and buy the same shares within 30 days before or after the sale date. Wash sale rules are designed to prevent investors from creating a deductible loss for the purpose of offsetting gains with only a short interruption in owning the security.
