Скачать или смотреть 5 Must-Know Secrets of Cross-Broker Wash Sales 🧾💡

Short description:
Learn why cross-broker wash sales can slip through the cracks and how to protect your tax position. 🧾💼

Summary:
The hidden tax trap in multi-broker trading is the cross-broker wash sale. A wash sale happens when you sell a security at a loss and re-purchase a substantially identical security within 30 days. If the sale happens in one brokerage (Broker A) and the repurchase happens in another (Broker B), neither broker’s 1099 form captures the full picture, and the IRS holds the investor responsible for accurate tracking. Relying solely on broker statements for tax prep is risky because wash-sale adjustments are investor obligations, not broker duties. Improperly claiming unadjusted losses can trigger audits and penalties.

For active or complex traders, manual tracking across multiple accounts is inefficient and error‑prone. The solution is specialized trade accounting software that consolidates data from all accounts, automatically detects wash-sale events, calculates the disallowed losses, and applies the necessary basis adjustments across platforms. When you trade across several accounts, automation isn’t optional—it’s essential for compliance and accurate tax reporting.

What you’ll learn:
How cross-account wash sales work and why they matter for your tax return.
Why broker-generated forms alone aren’t enough to ensure correct wash-sale reporting.
The IRS rule foundations: loss disallowance, carryover, and basis adjustments across accounts.
The limitations of spreadsheets or single‑broker tax software for multi‑account traders.
How centralized trade accounting tools automate data ingestion, wash-sale detection, and tax reporting.
Practical steps to implement cross-account wash-sale tracking, including data inventory, account connections, rule configuration, testing, and reconciliation.

Key implications:
If you frequently trade across multiple accounts, automation dramatically reduces audit risk, improves accuracy, saves time, and enhances tax planning. The article emphasizes that cross-broker wash sales are a real and manageable risk, not a theoretical concern. By consolidating data and applying automatic wash-sale adjustments, investors can maintain a compliant tax posture and make better-informed trading decisions. Always validate automated results with a tax professional, since rules can evolve by jurisdiction and asset class (stocks, ETFs, options, etc.).

Related topics and tags:
wash sale, cross-broker, cross-account wash sale, wash-sale rule, IRS compliance, 1099, cost basis, capital losses, tax planning, multi-account trading, broker accounts, tax strategy, automated bookkeeping, trade accounting, portfolio management, financial technology, fintech, tax audits, taxation of securities, substantially identical, automated tax reporting, data aggregation, accounting software, tax compliance, tax software, investment taxes.



00:00 Intro
00:28 Agenda
00:55 Disclaimer
01:14 Trap
01:35 Define
02:09 Why Worse
02:36 IRS Role
02:59 30 Days
03:22 Example
04:03 Fix It
04:47 Tools
05:24 Data Flow
06:01 Pro Tips
06:34 Quiz 1
07:07 Answer 1
07:26 Quiz 2
07:53 Answer 2
08:10 Takeaways
08:38 Wrap Up
09:05 Finale