Does Fidelity Autolatically Adjust for Total Wash Sales in their form 1099-B or Not?
Hello,
In the consolidated 1099 tax form from Fidelity, section 1099 – B, there is a note that says “Total wash sales (disallowed loss) are included in the total cost basis and, therefore, calculated in the realized gain/loss.”
However, in a recent post, Fidelity commented that they don’t adjust their realized gains/losses for total wash sales in the 1099-B form.
So which one is it, do we need to adjust the realized gains/losses number for the total wash sale or not?
in my form, it seems very unlikely that they automatically adjusted for the total wash sales in realized gains/losses number, but I’m confused by the above note they have in the form regarding automatically adjusting for total wash sales.
Posted Feb 22, 2026, 5:08 PM UTC
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