On Aug 29 of 2024 I placed three purchases for an ETF I will call XYZ and sold all of the shares at a loss on Sept 9. So I have three wash sales. I am now filing taxes with an extension filed on the 2024 tax year. I now find that my broker has created a very complicated 1099 that I am still trying to comprehend. I am intending to ignore the way they present the data because I think they have made an error that would be called "in my favor" (and it would be called an ERROR by the IRS). When I work through the problem as I will describe below, I believe that they are inappropriately allowing me to declare a loss for some of the shares. Since I do not intend to use their numbers - the amount of money I will report to the IRS will be more than the broker 1099 reported (covered short term sale).
So to my question. On August 29 I placed three purchases for ETF XYZ. On Sept 9, I made three sales for all of the shares, each sale being at a loss. It seems like the math is simple here. I expect to declare no gain or loss for the sales. Now the devil will be working through the Turbotax Screens but I have been using TT for 20 years and that is not my question here. My question is basically do I understand the wash sale rules for this very simple case.
My confusion is caused by almost all the examples of people using wash sale rules at some point include them rebuying the shares and getting an adjusted cost basis.
So to rephrase my question as simply as possible: If I were to buy 100$ of an ETF and sell it 10 days later for $95. Is not the correct amount of loss/gain that needs to be reported ZERO?
I am using Turbotax 2024 Premier Desktop Windows 11 Pro. I will file a paper return and will do nothing electronically
