Wash sale and gross proceeds

It depends. If you are still holding any of that stock that was purchased during the window (explained below) you may have a wash sale. If you believe you do not have a wash sale, then you should change the cost basis and if necessary the selling price for that particular sale. I will place the rules for a wash sale below for your information.  Keep in mind that a broker knows when a wash sale occurs, they don't know when it ends.

Wash Sale Rule Defined:

• A wash sale occurs when an investor sells or trades a security at a loss, and within 30 days before or after (60 day window), buys another one that is substantially similar.
• It also happens if the individual sells the security at a loss, and their spouse or a company they control buys a substantially similar security within 30 days.
• The wash-sale rule prevents taxpayers from deducting a capital loss on the sale against the capital gain.

Affect on Cost Basis:

• The loss that occurs on a wash sale is added to the cost basis of the shares purchased that created the wash sale.
• When all shares are sold and there is no repurchase, that increased cost basis will be used in full and used to determine gain or loss.

As long as you are tracking the wash sales and are not using them on the tax return when you are not allowed, you should enter the correct basis when you finally dispose of all like kind stock without a repurchase in the 60 day window.