topic If I sell a stock in April 2017 incurring wash sale loss and do not trade in the stock until April 2018, can I claim the wash sale loss as a capital loss? in Investors & landlords

If I sell a stock in April 2017 incurring wash sale loss and do not trade in the stock until April 2018, can I claim the wash sale loss as a capital loss?

slfremont — Tue, 04 Jun 2019 19:15:55 GMT

I bought and sold a stock (say, XYZ) in April 2017 and incurred a Wash Sale Disallowed Amount of $3200. I did not trade in the stock XYZ from May 2017 and do not plan to trade in the stock in 2018 also.

Please let me know if I can claim the Wash Sale Disallowed Amount as a capital loss in my 2017 tax return.

If you did this all through one broker and had no positio...

fanfare — Tue, 04 Jun 2019 19:15:57 GMT

If you did this all through one broker and had no positions in that security by Dec 27, 2017, your broker should do all the accounting for cost basis adjustment of replacement shares on your consolidated 1099-B. This is required. It should all work out in the end

There is nothing for you to do but report the consolidated 1099-B as supplied to you.
Reporting the wash sales as shown is also required.

If you still have a position in XYZ at the end of the year, you might not recover that disallowed loss in 2017.