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  1. Default What should i do with wash sale?

    Activity looks like:
    1. bought stock for 5.5 on Monday
    2. bought same stock for 5.2 on Tuesday
    3. bought same stock for 4.5 on Wednesday - 1k shares
    4. same day sold stock for 4.8 Wednesday - 1k shares
    5. bought same stock for 4.6 on Thursday
    6. sold all shares for 5.4 with profit on Friday

    bought same stock for 5.0 again and noticed Wash Sale sign....

    I read that the only thing that could be bad for me if I have a loss overall but instead i have to pay taxes from the gain. I am kinda worry now how you guys buying in tiers or average down positions?
    Should I call to the brokerage and try to clear it?

  2. Default

    Hi Andre..... unfortunately I can't really help but I learned something "Wash Sale" never heard of....
    I never average down and scalp the same stock many time never had the WS
    maybe it is because I am not a resident (pay my USA taxes in Italy) ...
    but I did some researches here >>>https://www.scottrade.com/knowledge...n/learn-the-basics/taxes/wash-sale-rules.html

  3. Default

    Thanks, Ciao! I read about it on Investopedia, Wikipedia and IRS sites.
    Their examples are too easy and do not look similar to my case.
    I mean that even that I bought some shares higher then the price i sold it but average price per share was less.

  4. Default

    I guess it was false alarm, I saw it for the first time and kinda panicked but now even though I see Wash Sale sigh, I see that profit is counted correctly and i wasnt planning to report losses anyway on these trades.

  5. Default

    Most people use Wash Sales to "wash" against their profits at the end of their tax year when they are changing their portfolios. The best place to read about them is in IRS's yearly tax guides.

 

 

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