Reply To: Wash Sale – multiple losses

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#20421
Christine237
Participant

Hi Walter – Thank you for replying!
Yes, I think maybe I should adjust those earlier “replacements” but I was hesitant because it doesn’t seem like the IRS would want me to cancel out gains that were purchased and sold before the options producing this loss were purchased… but I do read the wash sale section that way too.
For #2, I think the B refers to the checkboxes at the top (A – Basis reported to IRS, B – basis not reported to IRS, C- basis on on 1099
All of his are A – I have the basis and it’s right. I was going to only report the adjusted amount based on the adjusted wash sales that are in his 1099 from the brokerage, but I’ll double check to see if I need to add codes or do it differently
I think I do separate the quantities and assign the losses and adjust the other bases until its eventually gone… I just wasn’t sure if the 2 different transactions on the same day are both “first” but I think I’m talking myself into the idea that they aren’t and I just fold some of the losses from that first one into the second one to adjust it too…
Anyway, thank you again for replying. The interaction is helpful to me!