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This is a well-known issue with TurboTax and how it imports ESPP cost basis. The same happens with Fidelity reports as well. But in this case, the scale (numbe
by samspenc 6y ago
This is a well-known issue with TurboTax and how it imports ESPP cost basis. The same happens with Fidelity reports as well.
But in this case, the scale (number of trades) seems to indicate this was a day trader who was frequently moving in and out of the same (or substantially similar) positions and hence not related to ESPP.
- mattnewton 6y agoRight, it's a totally different error, just mentioned it to illustrate that just importing your brokerage account into Turbo Tax (what the article purports the Trader did) doesn't work 100% of the time. In this case I'm not sure if it's Turbo Tax or Robinhood calculating the cost basis after wash sales, just mentioning it could be another edge case where Turbo Tax is messing it up.