@DianeW777 @Thanks for the reply. Maybe the question wasn't clear
Basically, if I sold at a loss and re-bought the stock within the 30 day window and sold it again without another repurchase. The wash sale will be applied but the net loss will still be the same?
Hopefully that makes sense?
Example & Calculation:
Also just to add, if I bought stock 10 of ABC stock on 4/1 for $10/share and bought 20 more on 4/5 for $10/share and sold 20 stocks on 4/15 with a loss ($5/share) and then the rest on 4/25 (10 stocks for $2/share). I assume that 50% of the loss sold on 4/5 will be disallowed and added to the cost basis to 50% of the stock sold on 4/15.
4/1 and 4/5 : Cost basis of the 30 initial stocks = $30x10 = $300
4/15 : -$50 loss and the $50 disallowed
4/25: cost basis is $10x10+$50 (disallowed added to cost basis) and sold for $2/sharex10
150-20=$130
Net loss is -$130-50=-$180
Without considering wash sale:
-$5x20-$8x10=-$180
