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vch33
New Member

Wrong wash sale loss reported?

Hi everyone! I am trying to read my 1099 from Robinhood and understand wash sale rules. Got quite confused by the wash sale loss disallowed calculation -- here's an example: 

 

I traded options of ENPH in July/Aug 2022, and I fully understand that there's a wash sale loss of $1614.06.

 

Question 1: if I didn't trade any ENPH option/stock for the rest of the year, shouldn't the wash sale loss be treated as realized loss too? However, I am seeing the $1614.06 loss being added to the total wash sale loss disallowed.

Screen Shot 2023-12-19 at 5.09.08 PM.pngScreen Shot 2023-12-19 at 5.09.22 PM.png

 

Question 2: For a stock A, are its options with different expiration dates & strike prices supposed to be calculated together? In my 1099 I am seeing them aggregated separately as well as the wash sale loss calculation. What should I do to properly prepare my tax return for this? 

 

Thank you so much for any insights or help!

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4 Replies

Wrong wash sale loss reported?

What was the actual cost of the Put No. 1 of 7 bought 7/15/22 that expired?

Was it $313 ?
If so, No.1 of 7 has your disallowed basis adjustment that you are looking for, as it should..

 

@vch33 

vch33
New Member

Wrong wash sale loss reported?

Hey @fanfare ! It was $850 based on my order history. I am not sure why it's $1927.04 in the form but it seems like: $1927.04 (current cost basis) = $850 (cost of the PUT) + $1077.04 (wash sale loss from the one bought on 07/14) 

Wrong wash sale loss reported?

OK that leaves #537.02 to be accounted for .

look for another basis that is not the actual amount paid.

 

The way the transactions are reported is extremely confusing  !

 

 

@vch33 

vch33
New Member

Wrong wash sale loss reported?

I figured! Costs & credits from my order history add up, the cost basis of the one bought on 07/14 was adjusted, the cost was $900, (900+537.02)=1,437.02, 537.02 was from wash sale loss!

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