Reply To: Wash Sale – multiple losses

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#35270
Christine237
Participant

Hello again – I found out about the tax extension but now I’m back and I’m lost again. 🙁
I think the actual calculations are right but I have myself all confused about form 8949
Because the broker had box A checked – I do need to report the basis they have in the 1099 in column E and adjust column G for the cost. (I was putting adjusted cost in column e – so much easier)
In the instructions for 8949, I see that if actual basis is more than 1099 basis, I’m supposed to report it as a negative number in column g
I am supposed to report wash sales as positive numbers
Any combination codes are netted
So for example:
col D proceeds = 1204.81
col E costs reported in 1099 = 2065.14
Actual cost after adding in a previous wash sale = 6085.47
So the 4020.33 I added to this cost would be negative with a code of B in columns F and G
But – before adjustment, this was also a loss of 860.33 and it’s also a wash sale
W should added to G as a positive number
So my overall loss is 4880.66 (new wash sale)
But if I follow the instructions and I add the negative cost adj to the positive Wash adj, I get -3160.00 for column G
And now none of these BW adjustments add up when I go across because they’re wash and I need to have 0 in column H

I feel like it should be the total wash sale 4880.66, but that’s not how I read it

I have myself all confused again – do you think the net amount -3160 is right? or some flaw in what I”m doing?

Thanks for your help!