Yes I know the obligatory “ask your tax person” well I did and I think Reddit would still provide a faster answer.
Assuming this is All of my tax information this year, can anybody just quickly determine if I have to pay anything for my wash sale losses, or would I possibly get some kind of tax return on my losses?
I just got a tax form form Robinhood,
Cost Basis: 4,528,340.58
Proceeds: 3,684,683.03
Wash Sale Losses: 832,836.47
Aaaaand…
Net gain / Loss: -10,861.08
I’m pretty sure the wash sale losses aren’t taxed right? I simply cannot use that as a deduction for this year or any other year? If after all this cost basis/wash sales I ended up at a -10k net loss, can I only deduct 10k in losses (and in this case would I receive some kind of refund from IRS?)
Please spare me any ‘you should trade better’ advice 🙂 lol I know…
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