Hello,
During the earlier part of the year I did a lot of high frequency day trading, and still day trade a lot
looking at my taxable gains though on my Etrade, it shows that I have 300,000K of disallowed losses !!!! from wash sales. It is true that engaged in a lot of wash sales but I only hold a few positions now and they are not associated with the disallowed losses
most of the disallowed losses were associated TVix, SQQQ, and Sdow day trades, and I don't hold any of those for the last several months, sold them in July
But it looks like the wash sales just kept accumulating whereas I don't see the allowed loss when I finally got rid of the positions
I'm terrified that I will have a huge tax fill! how can I get out of this? My account is only about 250K total and its more or less net even for the year so how can this happen? it does not make logical senses.
How do I get out of this situation, is my broker misreporting and not adding to my final cost basis? they are closed now on the weekend.
It doesn't make sense I still have wash sales disallowences when no longer own the positions
thank you
