Wrong wash sale loss reported?

Forum|Forum|2 years ago
December 20, 2023
4 replies
38 views

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.

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!

fanfare

Level 15

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

vch33Author

Level 2

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)