I sold shares at a loss at one brokerage. Now it's much lower than what I sold it for and I want to buy it back. But the brokerage I sold it at is charging the equivalent of a 1% commission. My other brokerage doesn't have that fee. So I'm thinking about buying it back using my other brokerage. This will be a wash sale. But this won't be coordinated between the two brokerages. So my 1099 from the first broker will note the loss and the second broker won't have any idea. I would report the wash sale when I file but my return won't match the 1099s from the brokers. The 1099 from the first broker will say I had a big loss but my return will not since it's a wash sale applied to the shares bought from the second broker. In future, after I sell at the second broker their 1099 will show a gain but on my return it might still be a loss because of the wash.
Will the IRS be confused by all this and thus cause a problem? It's all on the up and up and I would be able to show them at an audit. But I don't want to go asking for an audit.
Submitted March 29, 2022 at 11:27PM by tooper128 https://ift.tt/LuSE6G5
