Stock Wash Sales

[kas35spring]

I am new to stock trading this year.I have had multiple wash sale adjustments thru my brokerage account while I was learning.The adjustments are added to cost on position when I bought the stock back.Does this help me on the tax liability in the end ?

[rjs]

In the long run the wash sales don't make a significant difference. You pay some more tax now because you can't take the loss. You pay less tax when you sell the replacement shares. In effect the wash sale rule delays taking the loss, but doesn't eliminate it. It would only make a significant difference if the losses are large, you don't sell the replacement shares in the same year as the wash sale, and your tax situation changes significantly from one year to the other.

If you sell all the replacement shares before the end of the year, and don't buy any more for 30 days, the wash sale makes no difference at all.

[kas35spring]

Thank you so much,

I will have any sales/positions affected sold immediately and will not repurchase those or similar this year(2020)

My washes sales are significant 20k

I have learned a lesson and only hope to survive this.