First of all I really appreciate the time that some of the experts that are in these forums spend responding to ignorant people in taxes, like myself.
I do understand the concept of wash sales disallowed, and I get that when you have been flagged for a specific transaction, you can't use that loss, but I also understand that loss then transitions somewhere else, and that somewhere else, in case you do hundreds of transactions of the same stock, should be the cost of the purchase of that stock.
There is a specific stock that I traded several times, more than what I can manually calculate, but at the end you see the following:
Proceeds reported - $12,366.81
Cost reported - $13,737.79
Washed sales disallowed - $1,039.17
Gain or loss - (331.81)
When you see this in a 1099... Am I supposed to accept that even if I ended up with less than $1000 of what I had initially, that I can only report a loss of $331.81? How and when can I recognize the other loss I had off more than $1000?
