How To Remove A Wash Sale | Wash Sale Examples with Cost Basis Adjustment | FAQ | Averaging Down 

Check out my video on How To Avoid Wash Sales & The Wash Sale Rule: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-BBRg5cP_wPg.html Check out my video on Tax Loss Harvesting: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-hznX5Ov8tfE.html Check out my video on Margin Trading & Margin Calls: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-8Pu3gD4Lkz8.html Check out my video on Investing in Real Estate: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bvtzYvGduuc.html

Most informative and comprehensive explanation of what a Wash Sale truly is - Thank you!

I know what a wash sale is but still panicked when I just encountered one. Nice video helping me understand what it truely is and no big reason to be too panic about it. Keep up the good work!

I just wanted to say "Thank You" for your wonderful videos! I love your work. Have a good day.

Question: If I have owned some positions for a few months and more recently averaged down (less than 30 days) , if I only sell part of the position, can I simply sell the lots that I recently bought first (perhaps at a profit) and then still be able to sell the rest (likely at a loss) and be able to avoid wash sale . Yes, I am a beginning trader and learning hard lesson. Any help from the channel would be appreciated.

Thanks Financial Fitness. This video and the prior one which described the rules was very helpful. Much appreciated! BIG thumbs up!

Excellent video. Eventually, when I sell the wash sale stock(assume in different tax years), everything should match up. Meaning, I won't lose any extra money just because of the wash sale. Is that a correct understanding?

Great video's. Still a little confused even after all the comments. I get the wash sale rule but, say I purchased 100 shares of abc 6 months ago for $10 (lot A) , the stock drops to $5. I decide to purchase another hundred shares today for $5 a share of the same abc stock (lot b). A week goes by and the stock rises to $8 and I sell (lot b). Still holding lot A, no loss occurred correct? So no wash sale? Just couldn't find the right answer when selling a stock lot at a gain without losses while holding the same stock that could be a potential loss. Any clarity would be much appreciated.

Question: Sold 2 cash covered puts for the same stock at different strike prices ($100 and $50 premium). A day later I closed one by buying it back at a high price of $400, thus incurring a loss of $300. The other one got excercised and got the stock (it is currently in negative as well). Since I got the stock, will this account as a wash sale as I bought the stock within 30 days of closing the other put? Or I will be able to get the tax break on the $300 loss. Also, say I sell the stock I got at a loss, will I be able to get a tax break on the loss?

Thanks for the video Quick question for you. Say I buy a stock and sell it for a $100 loss. Then I buy and sell the same stock triggering a wash sale but is a $200 winner, which now makes my account $100 in the green. Will I be taxed on the $100 gain or $200 winning trade because of the wash sale?

Thanks for explaining this. If the stock you have a 'wash sale' on eventually a year or two later goes up dramatically and you eventually sell and make a large profit on the sale years later it seems your at least 'essentially' getting 'back' the 'tax benefit'. Not as a tax loss but in such a way as to show 'less' in taxable gain because of the higher cost basis. Is my thinking somewhat correct?

Thanks for the video, if i sell the stock before 30 days with a loss, when can i re purchase it to avoid wash sale?

Hey there, great video but I have a couple questions: 1. If I have a wash sale and close out the entire position, does the 31 day period have to be completed before the end of the calendar year? For example, If i were to close the position tomorrow (Dec 2), the 30 day period would end in January. Do I still get to write off the loss on my 2021 taxes? 2. I have wash sales that were incurred early this year, but those positions have been closed for a long time. Well over the 30 day period. My broker still shows them as wash sales. Is this normal? Thanks!

Thank you so much for this video! I have a question. I have boughten and sold a particular stock 2-3 times per day over a 2 day period for 3 weeks within one month. Example Day range was 31-34$, the trades resulted in 200$ Gain, 300$ loss, and then a final loss of 100$. On day 2 the range is 36-40$ it was 300 gain, 200 loss, 200 loss with a net loss of negative 300$. lets say this repeated the next two weeks.. One week being a gain of 200$, the final week another loss of 200$ Is this considered a wash sale?

Thank you for your video. It really helps my confidence in avoiding wash sales going forward. However, back on June 20, I had averaging down by buying several batches of an ETF throughout the day. Within 30 days, I decided to sell one batch at a loss in order to buy something else, thinking I had previously made enough profit in this account to offset the loss on this trade. Unfortunately, this triggered a wash sale on my second batch and the loss on this batch was disallowed. Anyway, I'm thinking of taking a loss if necessary by the end of the year to offset my capital gain but I just want to make sure there will not be a nightmarish domino effect of wash sales on the other batches bought on that same day. The question: If I sold everything now and not buy again for at least 30 days, would I be able to get rid of the wash sale completely and would I be able to use the full amount of the loss to offset the YTD capital gain in this account? Thank you in advance for your answer. Bests.

Awesome video! I think you made it clearer for me. I have one follow-up question. If I had the wash sale on my account and I did not realize and then bought back into the stock would waiting the 30days reset it to my purchase price or would it still be showing the adjusted price until I sell out of it and then wait another 30 days without having any of the security? Hope you can help.

Thank you for your informative video. I do have a question. Can you clear/get rid of a wash sale if you break even?

Stumbled your channel for the first time and loved the concise content and presentation; much appreciated! Quick question, when you get a chance- - Say I bought 100 shares of a company on 1 Jan @ 250$ per share (Lot A) - I bought another 100 shares of same company on 1 March @ 200$ per share (Lot B) - I sold the entire second lot (Lot B) on 5 March @201 $ and booked a profit of 1*100 = 100$ total Now if I sell 10 shares (out of 100) from first lot (Lot A) on 10 March, would it be a wash sale? Thanks, again!

Thank you for the video! I have a question. I bought and sold an ETF between February and June, and these transactions created wash sales. I did not quite about that rule. So, when I learned it I stop buying and selling. I am thinking of selling all the shares in two months and never buying again. I just want to know whether the amount of wash sale created will be added to the proceeds and turn into taxable income. Will I be taxed for that wash sale amount? When I sell all the shares what would happen to the wash sale disallowed amount? I have been searching for an answer for a while, and it seems that you can provide some insights. Thank you!

Hi Cost basis = 217,949.50 Market value sold= 204,998.95 G/L = -9,478.10 Disallowed sale =5,687.84 So, what is my total realized gain & what sale amount i have to consider in unrealized G/L

Thanks for the video! Quick question..if I sold say 100 (all shares) of a stock at a loss, and then repurchased 60 shares 15 days later and also sold those at a loss, would I now just need to wait 30 days from that second sale to be clear of wash sale impacts? Also, how will these affect taxes, will it just be two losses? Will this show up on the 1099 clearly or will I need to make adjustments? Thanks!

hello did i have a wash sale when i sold a 2 option contract at a loss of $76 dollars then i bought the same security in my roth IRA account before the 30 day period? Also i bought the securities in 2 different brokerages because the Roth IRA account is in a different broker. Thank you!

So on December 7, I made my last closing transaction of COIN. haven't made any trades with either equity or options ever since. I have no position whatsoever. Now it is January 6 which is 30 days from December 7. Tomorrow is january 7 which is 31 days from December 7. Is it safe to buy shares of COIN on January 7 in this example to not trigger a wash sale? Is it 30 calendar days or 30 business days? TIA

Hey Brian, Do you think that my broker will switch out a wash sale that got triggered on a stock sale loss with another lot of stocks that would have not triggered a loss? I sold 3000 shares of a stock worth .44 x share for .25 x share I have shares that are under .25 I just didn't know about the wash sale rule until now :( It raised my cost basis on a a few of my shares to higher than what I think the stock will rise to.

Love your video..I do have a question... I purchase 10 share of an ETF at 326 in Jan 2021...then bought 10 more share at 310 may 2022...days later Panicked and sold 19 shares at 278...then Panicked again and bought 19 shares back at 277. I didn't know about the wash sale and now I don't know what to do? Should I just sell my 19 shares (though now the stock is at 270) or should I just hold out for 30 days and buy when it goes down? I'm very confused and scared!

If i sell all the shares above the wash sale adjusted cost basis, would I still have to wait 30 days if i wanted to buy that same stock back?

Thanks for the explaination! Do you know if broker typically adjusted the new share's cost basis with wash sales disallowed on the 1099 when we sold the stock? Or how should we keep track if we have too many stocks with wash sales?

If you have a Wash sale with the wash symbol and sell out of the stock again (realize the loss). Can you buy back in in 31 days? Or will you get the wash sale symbol again?

Your video and viewers comments are extremely helpful. Answered questions I did not even think of asking. One that I did not see is if you have a wash sale over $3k in loss, buy back short term for a gain over $3k, are you still dinged with tax issues from the wash? Also, if you buy back in after a wash sale your share price is adjusted. Assuming you have gains, will that adjusted share price ever go back to the price you purchased at?

Hello , so i did an option call on AMC and i ended up losing $625. The next day, i bought back AMC at $590. So the cost basis would be $1215 right? What if i sold AMC the next day at $600. I would’ve had $110 in profit. Would i be able to claim the loss of the first transaction?

I have a question: So let's say you bought a stock for 2k and you sold it for a loss of 1k -----> you rebuy the stock again within a 30 day period - you triggered wash sale therefore it increases your cost basis... Now you rebuy the stock again at 3k so the cost basis now is 4k (3k cash + 1k wash) .... now you wait 31 days to sell and you sell it at a loss of 2k : 4k ( 3k cash + 1k wash) - 2k loss = .... would that 2k be considered taxible loss? or would 1k of that 2k loss be considered taxible loss ? Or would none be considered taxible loss?

Thanks for the video. I have a question. If I sell a stock in one brokerage account for loss and buy back same stock in another brokerage account or IRA account within 30days, will it be considered as a wash sale?

Do the 2021 1099s that brokerages have ready by the middle of February incorporate trades made in January 2022? I have a ton of disallowed total wash sales ($13 million) on my 1099 for just one brokerage. My mark to market gains would have been $474k, but my taxable gains were $1.3 million because of the wash sales. I was wondering if the brokerages wait til January is over so they can accurately calculate wash sales based on trading activity in January 2022? I don't see any 2022 transactions listed on the 1099s. maybe thre is a little bit of hope for me. Otherwise, what should have been a $90k tax bill has turned into an estimated $550 tax bill which would wipe me out. My CPA recommended not to do MTM last year. Too late now.

Thank you for your video. I sold 83 shares of stock. I meant to take a slight gain & repurchase when it dropped. (The trade cause a loss by pennies so say $8 loss due to trading price at execution) Lowering my cost basis & increasing shares. But the company is doing great now. I bought 1 shares to make it easier to keep an eye on. I triggered a wash sale on the 1 share. I needed to wait 1 more week. My question is. If I sell the one share at a loss tp my CB now does that reset the 30 days? If I sell at a CB gain, will need to wait out from my original 30 day or from the day I sold to re-buy?

Great follow up video!

Option with diff strike price and month is consider not the same? This kind we should not sell the stock at loss but you can on options ? Is this correct.

I have 2 open positions as of 12/30/21 below: 1) Have 1600 shares of LCID (currently at loss) 2) Sell 15 puts open LCID (currently at loss) expiry 12/31/21 I sold 1400 out of 1600 shares of LCID today. Can I buy Close that "sell put" option position at loss OR will it trigger wash sales? I am not opening a new position, just closing all positions(stocks and options) of LCID at losses.

Hi Bryan! Thanks for the video. Supppose if I had a wash sale loss of 900$ and Net gain of 500$. Do I owe 900$s to the IRS ?

This was tremendously helpful. And as you rightly mentioned, this can be learnt only hard way. I just performed a transaction and came to know about this Wash Sales Rule. I sold stocks at loss for tax loss harvesting and will receive my company stocks as bonus in next 10 days, so wash sales rule will be triggered. What I wanted to know was that if I sold X number of units at loss at day 1 (after holding it for 2 years), then buy Y number of units at day 10 and sell all Y number of units on the same day at the same price, then what happens to the loss that I had incurred on the X units?

Great video! Quick question: I have a disallowed loss of $1000 from a single stock I bought , sold, re bought and sold within 30 days last March. I never traded that stock again until yesterday: the stock is down another 50% from 8 months ago so I bought a block of shares, yesterday. The cost basis in my account is showing what I paid yesterday, shouldn't the cost basis be higher because I'm still in the same tax year? I'm thinking this is a broker adjustment error, or maybe I'm misunderstanding something within the rule? Thanks in advance for your help!

What happens when 30 days pass after the loss of a wash sale? Is it claimable? If so, If you buy 300 shares of XYZ and then sell 300 XYZ same day if you do not touch until Jan 31st is it claimable on the previous year? To sum up my question (two) do you get to claim a wash sale after 30 days of no buybacks, or does the benefit of added cost go away and you are screwed. Second question was a Decmeber to Jan issue. If you trigger the wash sale in Dec but let it fall off in the next year, does this mean the wash sale is claimable?

The wash sale would only trigger if I actually have a loss though right? Let's say I buy stock X at $5 and I sell it at $6 whether it's before or after 30days of purchase. A week later I buy the same stock X at $3. Since I originally sold at a gain no wash sale will be triggered is that correct?

Great video! Thank you for sharing!

Great video, just subscribed! This was new to me and I was worrying about why my average cost kept rising when I was dollar cost averaging down. I called td ameritrade customer service and they explained this but I have a question. After 30 days after a wash sale, should my average cost be adjusted to the price I actually paid? So like if I bought stock xyz for 20 dollars then sold the next day for 10 dollars then bought back at 15 the next day, my average cost should be 25 because of the wash sale, however, will my average cost go back to 15 at one point because that is the real price that I paid? Thank you so much.

Question. I got dinged with a wash sale in dec but I thought it would go away on it’s own after 30 days. I kept buying and the last time i bought was late jan. Can i go ahead and sell the washed portion now and wait 30 days or do i have to wait 30 days after my last purchase? Thanks for taking time to answer everyone here

So I have two scenarios and in both, I had no position for about 60 days after I sold that stock or options - Scenario 1: Purchasing a XYZ stock at different price through out the year for $ cost avg. I purchased even more in Nov end, but then after all purchasing was done. I decided to sell them all, by placing orders in block, like 50 to 100 stocks in each order in the last two weeks of dec-21. I have not repurchased this stock in '22 as of now which is way more than 60 days than the last sale date. 1099-B showed a wash sale loss disallowed on this. is that something I can report / claim as loss instead how it was reported on 1099? Scenario 2: Options: Same CUSIP, Same expiration date, same strike price. Say I purchased 50 call contracts, 10 at a time at different premium. After all the purchase was done, I sold them 10 to 20 contracts at a time, but sold them all. 1099-B has marked it as the wash sale in between of the sale orders. I purchased options for a different expiration and strike price in the following month. But didn't had any stocks or contracts or any trading for the same or similar tickers for the last Qtr of 2021. In both scenarios, I never sold and repurchased and then again sold, I am either buying buying buying and then selling selling selling, however I now realize that the wash sale rule was applicable since I didn't sell all stocks or contracts under one giant order. can you please let me know if I can report these losses in the current year or next? thank you for your help in advance.

So essentially if I just don't trade in December, my only taxes will be on my gains for that year? Say I sold a stock and made 300, sold it and rebought later only to lose 250$. Will I be taxed for 300$ or 50$?

Thank you very much for the great series about wash sale! It's absolutely very helful. I have one quesion need clarification. If I make multiple round trips day trading on one stock on a single day, and won't trade this stock for next 30 days. Will there be wash sale problem? Thank you very much!

Wonderful wonderful video

Will the cost base adjustment keep occurring as long as it’s within the 30 day period from the first initial trade? Or would it keep adjusting indefinitely with the newest trade as the time stamp? For instance, I sold ABC at a loss and rebought it 2 weeks later. Would the 30 day period be adjusted to the purchase 2 weeks later?

Please help! I made a huge mistake and I have over 3 million dollars in wash sales on my 1099. My losses equal out to be $16k on the 1099, but I actually lost over $30k (I'm assuming this is because of the wash sales). Does this mean if I make $50k stock trading next year that I have to pay taxes on the entire amount? or is it $50k-16k? Or is there a way I can deduct the $30k I lost this year? Can the wash sales be rolled over to next years taxes? I'm so confused.

Great stuff, help clarify the timing and different cost affecting it. i do have a question: like 8 months ago,i triggered a wash sale accidentally and so i actually repurchased a few time to avg down in hopes of getting gains. sadly in the end it was going to the ground and ended up selling for a loss again with 30 days of the last purchase. so does this still count for a disallowed loss? haven't touch it since then

thanks so much for your video. so if i have a strategy in which i only straddle QQQ options every day. so i cannot do this during dec-january? with this strategy i often have one side of the straddle go to 0 and the other side go over 100% each day which gives me a nice average profit. but now i'm getting scared the taxes will bite me?

Hi there, I have a question. I accidentally sold $100 worth of AT&T(3.479 shares) when I was was supposed to buy $100. I never bought AT&T since that mistake but got paid dividend recently and it’s triggering a wash sale symbol on my account. How do I get rid of this wash sale symbol?

Great video and thanks for breaking things down so well @Financial Fitness! Just subscribed and I had a year end wash sale question: If I triggered a wash sale mid Dec, closed my entire position at a loss before end of year, and made sure not to repurchase the same ticker throughout January can I still report the loss on my 2021 taxes?

Thanks for the video. I have a question and I hope you can clear some confusions for me and other here. I did not know about wash sales loss until now. I made many trades in 2021, mostly options and averaged multiples times. In most cases, I lost due to options expiring. So my overall proceeds is lower than the cost basis but due to wash sale loss , I have Capital Gains instead of Loss. How do we handle this situation? Any suggestions.

If I buy a energy stock and sell at a loss can I get in a different energy stock and avoid wash sale

Question - If I own 10 shares of XYZ purchased at $10/share for a long period... then within a 30 day period I both purchase 5 more shares at $6 and then sell that specific lot just recently purchased at $5, does that avoid a Wash Sale? In other words, if I designate the sale as the specific shares bought within the last 30 days.

Cant wait for your t plus 1 video

So if you don’t trade for a month it gets rid of all your wash sales for that entire calendar year. Like they never happened? So more or less if I take December off I will never have any wash sales?

It's so awesome that you answer everyone's questions!! I have one of my own if you don't mind that I'm just trying to understand. I think you've answered it but just to be clear. I sold a stock at a loss, but rebought within 30 days. Let's say at a loss of $200 The stock then went down even more and I'm thinking about getting out before the end of the year for the tax credit. At another loss of $600 for example. Is that initial 200 I lost totally unclaimable since I rebought, or since it gets added into the cost basis, is the total cost basis loss what I can claim if I wait 30 days? Or is it only the $600 I'd be able to claim for taxes? Maybe another way to put it is can you use the "cost basis" amount to figure out the loss, or can you only claim the loss of the last non wash sale? Sorry if I'm not wording that well, hopefully it makes sense. Thank you so much!! I have been scouring the internet trying to understand this clearly.

I have several wash sales that were triggered due to day trading. I have since closed all positions on these sales. When you say closing all of my positions will clear the wash sale , does that mean that my accountant won’t have any extra wash sale work? Hopefully that question makes sense. Thanks

Good insights. Qs: I made 4 short trades on Jun 29 on a single stock. On July 1 i covered the same stock in 4 installments at a overall loss. My broker is classifying this as a wash sale on 1099. If i made no attempt to short the stock again, how does this become a wash sale.

This is the situation I'm in. I am not a trader I'm more into investing for the long term. All the stocks I have I plan to hopefully hold onto many years. in the process of trying to consolidate my 2 portfolio into 1 I triggered a wash sale. Since I don't plan to get rid of these stock for many years(cross fingers) is it just best to average down and not worry about? Honestly it was a tiny loss.

Thank you. I watched wash sale videos for 3 hours in yourtube but your video of 10 minutes answered everything that 3 hours videos didnot. One question. I bought one stock for 100 dollar on Jan 1st. I sold that stock for 40 dollar on Jan 2nd resulted in 60 dollar loss.. Scenario 1. I bought that stock back again for 150 dollar on JAN 3RD. will the cost basis of this stock will be (150+60) = 210 ?. If i hold the stock with cost basis of 210 for 2 year, that loss(60 dollar) will be carried for 2 year?

Hello, what will happen if I sell a wash sale stock for a loss?

I'm really concern about my 1099. It shows proceeds of $221,758,402.37 , Cost Basis of $223,476,924.85 and Wash Sale loss Disallowed of $1,694,493.24. Net Loss of $24,029.24. So I don't know if I pay taxes on Net loss ($24,029.24) or on Wash Sale loss Disallowed of $1,694,493.24 ?

Thanks for the information in the video.. I do have a question or two.. When taxed on your stocks are you only taxed on the net gain or loss ? How does the wash sells really affect on how someone is taxed ? Thanks for the information again

Is wash sale permanent? Should I sale my stocks with wash sale symbols to avoid more loss? Today is October 2022, should I leave the wash sale as it or sell them and don’t by anything else?

I bought a stock at 12$ the stock crashed to 7$ i average down to 9$ i sold the stock at 9.70$ and made profit if i buy the stock again would it trigger a wash sale?

say my wash sale already occurred for one stock, (1) can i still sell those shares for gain any time or have to still wait for 30 days ? (2) can i still buy the same stock (like addling more shares) within the 30 days or have to wait after 30 days?

I shorted selling Telsa stocks for a total of 100 shares several times in one day, and I bought to cover of 70 shares several times in the same day and 30 shares on the next day for all lost. Should I get penalty for wash sale like adjustment on cost basis? Thank you.

Thank you for this video. I have a question, I hope you can help me. I have incurred wash sale for my 2020 tax. For example, I have a wash sale of 5000 for stock A which happened in July of last year. I totally closed my position then. Come february of this year, I gained 7000 for stock A. Will my gain be adjusted for the wash sale the previous year even though it has passed the wash sale period and pay only the tax for the 2000 gain or I will be tax for the whole 7000? Thank you

What if I decide to keep the wash sale position until the following year will my taxes still be affected

still not clear if i can avoid a loss sale deduction if I sell only the shares involved in the wash sale or if I have to sell my entire position even when my position is greater than the loss sales shares.

So I made a good amount of money this year and lost it day trading options, the ups and downs created wash sales, and I ended the year only up 6 percent. If I sell all securities for 30 days, does that get rid of the burden of paying super high taxes on all the capital gains?

Hi, great channel you got going on here. I have a question. Can wash sales be deferred and claimed later on? I made rookie mistakes during my first year of trading. Took a lot of losses on different stocks and options during the year. My question is since I can't buy these multiple stocks back to add to the cost basis (and mostly closed them and didn't buy them back, plus it's way past 30 days too), can I claim it back in my subsequent taxes or is it disallowed forever?

Question I have had a lot of wash sales this year lol not knowing it was a thing. Let’s say I close out all my positions this week, and don’t trade till January. Am I in the clear ? I saw some 32 year old ended up with like a 800,000 tax bill after wash sales even though he was up money. and I can’t afford that haha I would have to hide and run. Thanks in advance for your videos and response.

Hello, I’m new to trading and did not know about wash sales until I read an article about a man who had to pay $800,000 in taxes even though he only had a $45,000 gain in his account. Because I did not know about wash sales, I frequently bought and sold stocks within 30 days throughout the entire year. Because of this I now have a ton of wash sales on multiple stocks resulting in a high six figure deferred loss on my account. I’m freaking out because I’m confused on what I have to pay taxes on, I do not want to end up like the guy in that article. My realized gains for the year is only $13k. If I sell all my positions and do not buy any stock until January 1st 2022, will all of my wash sales go away? Will my deferred loss amount eventually go away? And will I only have to pay taxes on the $13k realized gains? I use E*TRADE. Thank you

Thank you so much!!

Thanks for the great video! I am trying to clear wash sales. What happen if I specifically sell only the shares with the Wash Sale BUT at a loss below the wash sale adjusted costed basis. I am not planning to repurchase within 30days. Will I able to clear wash sale and claim loss? Thank you so much in advance

Great job. probably the best ones on RU-vid that explains wash sales in great details. I only want to mention that the 30 day rule should be explained better. I was always thinking that it was applied to the next 30 days, but I understood that it is applied to previous and next 30 days of the last sale date. I have not seen an example where you show a wash sale that occurred as a result of buying new shares less than 30 days ago before selling some shares for a loss. I guess this would be in your first video. Most examples give an impression that, if you do not buy in the NEXT 30 days, you should be good with not having a wash sale.

can wash sale loss against any Capital Gain realized in that year?

I have a wash sale rule of 5,600 that I sold in December 21 and I got slapped with it. During the 22 year of filing my taxes I couldn’t claim it as a loss. What happens to the 5,600 that I lost?

Okay, I accidentally I believe made a wash sale with options. I wanted to sell a cash secured put but I accidentally bought a put. Next day I realized my mistake and lost about 100 dollars by closing the put, and the same day I sold my put. I have been doing weeklies with the same stock for the last month with a profit every week making about 1k. How will that affect me? I totally understand the wash rule with shares but I a little confused with options.

I want to know if you sell for a wash sale and then rebuy, is there anyway to recoup the “disallowed” losses (like if you sell a second time again and don’t rebuy).

I could use some help with removing some wash sales. I think I know what to do, but it would be nice to be able to confirm with someone like you before I take actions. Are you able to help me ? Thanks

Can you help? I like day trading SPY options, I lost $300 today triggering a wash sale. I’m usually profitable , I don’t want to wait 30 days to restart. What’s the worst that will happen wether I profit or lose on the next trade?

I learned the hard way I sold a stock at a loss then rebought it and noticed my average price was more than what I rebought it for. Then I looked up wash sales and it makes sense oh well gotta learn somehow

So I can trade all year…close all my positions before December and not have to worry? (This is my plan)

Hi, so basically, I've done a ton of trades. I'm currently in the red. If I just don't touch any of the stocks I've been trading recently for a month, as in sell them all for either profit or loss, would all the wash sales that I may or may not know of go away?

HI, I am very confused with my scenario. If you buy an Option for 200$, buy that same option a week later for 100$, and a week later, it expires worthless. Can I claim the 300$ loss? Robinhood has marked my trades in a similiar scenario as wash sales. Options expired Dec 15, but i was averaging down until expirations. There were no sales

My question: I sold 5 out of 20 stocks of xyz for a loss getting me a wash sale disallowed. Then ultimately i sold the remaining 15 stocks at a lost also, what happens to the wash sale amount from the initial loss sale(5 shares sold)? Do i get to use that loss and add that to my loss from selling the rest of the stock also?

So if I accidentally trigger a wash sale, for example, I buy back 1 share at $10 and get a $5 charge. I paid $15 for that share, but the price is still at $10. Will it average down considering I paid $15? Sorry if it's an obvious question. I'm scared of averaging down...don't want another charge or to not avg down at all.

I triggered a wash sale when I averaged down and sold at a profit, but obviously some of the shares sold at a “loss”. I rebought the stock, and the loss from the the previous sell was added onto the price, as expected. My question is, can I average down again in this stock if I need to to again sell at a profit? I won’t be re-buying into the stock after that, but just wondered if buying more shares to average down is allowed without more penalties? Thank you in advance, great videos!

Hi there, In my Fidelity account, I have over $3,000 as disallowed loss. My question is 'is there anything I can do to get this disallowed loss to zero?' Say by the end of the year, I have $3,000 as net gain and I have $3,000 as disallowed loss, does this mean, I will pay taxes on $3,000 net gain despite having a $3,000 in the disallowed loss column?

Question: Earlier in the year, I held multiple positions that incurred wash sales. I now no longer hold these positions since I sold them months ago and I am overall negative on the year. I do not plan on buying into any positions for the rest of this year. Since I have now sold all these positions, at year end can I write off all of these losses up to 3k? Please let me know as I have seen conflicting advice on this.

I LOVE THIS VIDEO....i just had one question....so i received a wash sale for a stock...and i have OCD and that W symbol is pissing me off hahaah...so if i want to get rid of that symbol...i should sell the stock that just got the wash sale and wait 30 days to purchase it again and then the W symbol (wash sale) won't be there? SORRY IM A NEWBIE!!!! : )

Question..I have a wash sale in a certain stock..I don’t want to sell out of the stock completely..can I wait 30 days to buy more if the stock is lower and then once the stock goes up l, sell those specific shares that have wash sale symbols at a gain..will this get rid of the wash sale symbol for that stock?

So i have a few wash sales on stocks I plan on holding long term.. how do i remove the wash sales? Do i sell my position once it's in the green and they re-buy?