Wash Sale Question

However, as pictured, the stated gain is equal to proceeds less basis only. You would need to understand what accounting procedures were used by the preparer of that document in order to figure out the correct number of tax accounting. One of the figures in your screenshot is wrong (or at least inconsistent with IRS usage of those terms) and there is not enough information here to know which one.

Since that's the summary, it's actually probably correct.

That's exactly what the annual summary would look like if the wash sales occurred, and then later in the year the purchases that triggered the wash sales were sold, and the previously disallowed losses were realized.

The yearly summary would still show the wash sales, but the overall gain will still equal proceeds less cost basis.

/r/tax Thread Parent