Hi! I was wanting to know about a semi-complex situation. I purchased some options at about 460 at two different times. The stock dropped but I chose to hold onto the original two. I then purchase another contract at 300. The same day, prices spike and I sell 1 contract at 360. The day after the price spikes again and I sell the other 2 at 500. My broker is applying the cost basis from the original sale to the sale at 360 which shows a loss of 100 and therefore triggers a wash sale after selling the other two. My intention was to sell the option I bought last at 300 at 360 which is a gain of 60. Which would mean I avoid causing any sort of wash sale from the other two sales since everything would be sold for a profit. Is there any reason one specific cost basis HAS to be reported on a specific sale? Or can I sell front-to-back and avoid losing what was in reality almost 2/3rds of my profit?
I bought nvidia and sold at a lost. Then bought it back 1 week later where they added my lost to my cost basis and then sold again about a week after. I am now waiting 30 days. After those 30 days passed (in june 1st) if i buy nvidia again will they still add the lost to my cost basis or not anymore? What if I make sure to sell nvidia by November this year. Will I be able to claim that lost at the of the year?
what if I bought stocks for A company at $100 for 10 shares = $1000 , and sold all for 500 for 500 dollars loss. And then bought 100 shares again within 30 days at 400 dollars and sold again at 200 dollars for 200 dollars loss? is Net loss 700 dollars loss? even after all the wash sales? so I can deduct 700 dollars loss? I am asking because a stock was continually going down and I traded in and out and in and out again. Thanks!
Prof Farhat thanks for explaining this very clear.
Thank you and please visit the website for more farhatlectures.com/
Hi! I was wanting to know about a semi-complex situation. I purchased some options at about 460 at two different times. The stock dropped but I chose to hold onto the original two. I then purchase another contract at 300. The same day, prices spike and I sell 1 contract at 360. The day after the price spikes again and I sell the other 2 at 500. My broker is applying the cost basis from the original sale to the sale at 360 which shows a loss of 100 and therefore triggers a wash sale after selling the other two. My intention was to sell the option I bought last at 300 at 360 which is a gain of 60. Which would mean I avoid causing any sort of wash sale from the other two sales since everything would be sold for a profit. Is there any reason one specific cost basis HAS to be reported on a specific sale? Or can I sell front-to-back and avoid losing what was in reality almost 2/3rds of my profit?
I bought nvidia and sold at a lost. Then bought it back 1 week later where they added my lost to my cost basis and then sold again about a week after. I am now waiting 30 days. After those 30 days passed (in june 1st) if i buy nvidia again will they still add the lost to my cost basis or not anymore? What if I make sure to sell nvidia by November this year. Will I be able to claim that lost at the of the year?
after incurring wash sale, when can you finally get your losses for tax purposes?
Isn't crypto also included in the wash sale rule as of 2022?
yep
what if I bought stocks for A company at $100 for 10 shares = $1000 , and sold all for 500 for 500 dollars loss. And then bought 100 shares again within 30 days at 400 dollars and sold again at 200 dollars for 200 dollars loss? is Net loss 700 dollars loss? even after all the wash sales? so I can deduct 700 dollars loss? I am asking because a stock was continually going down and I traded in and out and in and out again. Thanks!
yep
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