topic Wash sale in Investors & landlords

Wash sale

jc136 — Mon, 09 Mar 2026 04:50:03 GMT

I received my 1099B from my broker and it disallowed all of my negative transactions on the basis of them being wash sales. I closed all of my stock trades with this broker before the end of the year. I question is on the summary the proceeds value is $6400 less than the cost basis but is reporting a gain of $6100 on my taxes. The disallowed wash sales totals $12500. I thought the cost basis was transferred to the stocks purchased that caused the wash sale. At the end if I am showing a loss how can I be taxed on a gain?

Re: Wash sale

fanfare — Sun, 27 Feb 2022 01:36:16 GMT

"I thought the cost basis was transferred to the stocks purchased that caused the wash sale."

It is the amount of the disallowed loss that is transferred.

[ /////// ]

Re: Wash sale

fanfare — Sun, 27 Feb 2022 01:38:24 GMT

Forget about the tax summary.

Examine your Schedule D and Forms 8949 to see what is being reported.

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason,

AND, to find your AGI next year.