How to adjust cost basis for multiple wash sales

Forum|Forum|3 years ago
February 21, 2023
1 reply
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I have multiple wash sales on my 1099 as follows:

1. bought 2600 shares 9/27/2022, sold 9/30/2022, wash sale loss disallowed: 2809, gain/loss: -2809
2. bought 2400 shares 9/27/2022, sold 10/11/2022, wash sale loss disallowed: 9202, gain/loss: -9202
3. bought 2300 shares 9/28/2022, sold 10/14/2022, wash sale loss disallowed: 8562, gain/loss: -8562
4. bought 100shares 9/30/2022, sold 10/14/2022, wash sale loss disallowed: 0, gain/loss: -409
5. bought 100 shares 10/09/2022, sold 10/14/2022, wash sale loss disallowed: 96, gain/loss: -96
5. bought 100 shares 10/09/2022, sold 10/26/2022, wash sale loss disallowed: 0, gain/loss: 1069
5. bought 2400 shares 10/09/2022, sold 10/26/2022, wash sale loss disallowed: 0, gain/loss: 18701

Do I sum up all the wash sale disallowed and add that to the cost basis of the last trade where my profit was 18701?

The cost basis of that trade was 138000 - is the adjusted cost basis then 138000 + 2809 + 9202 + 8562 + 96?

Thanks,
-Bryan

TurboTax Online

RobertB4444

You need to enter each sale separately.

The wash sale is entered as an adjustment to the sale with code 'W'. The wash sale amount will reduce your cost basis by that amount, not increase it.

A wash sale occurs when you sell a security at a loss and then re-buy the same security within 61 days. Repeatedly showing a loss by doing this is not allowed so the loss is not allowed.

@bryanyuchen-gmai

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