@DianeW777
Sorry - I think I wasn't clear in my description and also my misunderstanding.
I guess the first sale was a loss of $100. (Sold 20 for a $5/share loss).
I thought that there was a 1:1 relationship.
So the 20 stocks I first sold on 4/15 will be coming from 4/1 (10 shares) and 4/5 (10 shares). So I thought the 10 shares coming from 4/1 will be a wash sale (-$50 will be added to the cost basis to the last 10 shares I sold on 4/25) while the shares coming from 4/5 will is not a wash sale where I can claim a -$50 loss right there. Since the last sale on 4/25 is a total loss of $-130, the net loss is still -$130-$50=-$180 which is the same as not even having the wash sale to begin with since I did get rid of my entire position in the same year.
Let me know if I'm understanding incorrectly.
Sincerely,
Someone in their 20s trying to understand 😃
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
@fan- correct but if I understand correctly, not if I have multiple brokerage accounts =(. If Turbotax could adjust it, that would be great...
