New to investing, maybe somebody can help me wrap my head around this.
So I opened an account and invested in a bunch of stocks. Fast forward a couple months, i'm up some investments down some others. I decide now that i've learned a little more about how i'd like to invest, to just sell all my positions and start over. With my wins and losses basically counting each other out, this resulted in basically a very small return overall. No biggie.
So then a couple days later i reinvest in some of the stocks that i had closed out for a loss, and i'm looking at a 'wash sale' where now fidelity is adjusting my buy-in price to include that loss I just ate.
It appears to me that i'm basically being hit TWICE for the loss now. The first time when I sold my position and now again while i'm reopening a new position.
Can somebody explain this to me?
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