No, it's somewhat misleading. The disallowed loss is not added to losses in the following year. What happens with a wash sale as @ThomasM125 explained, is that while the loss is disallowed it also becomes permanently suspended. Should the taxpayer, or investor, re-purchase the same security, then that previously disallowed loss is added to the cost basis. Thereafter, if the taxpayer/investor should sell the security, and incur a loss, that loss will be realized provided the taxpayer/investor does not again repurchase the same or similar security within 30 days of the sale.
Additionally, that 30-day window referenced in the previous paragraph includes the period of time before the sale as well. So that the prohibitive period covers a total of 61 days, that is, 30 days before the re-purchase and 30 days after the sale.
@vrobert
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