a) It is the triggering transaction that gets adjusted. That happens immediately.
According to IRS rules, how much it is adjusted is figured starting with the earliest SELL(s) in the +/- thirty day window that is(are) being disallowed.
b) It is possible for triggering transactions to also turn into wash sales due to subsequent triggering transactions.
Lucky for you the broker is required to track all this, so why worry about it ?
