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I read the FAQ for wash sales and have a pretty good understanding. My question is how to do the actual reporting on the tax return. During the year I did a little daytrading.
Mar 1st
Buy 100 shares XYZ for $10000
Sell 100 shares XYZ for $9500
Mar 2nd
Buy 100 shares XYZ for $10000
Sell 100 shares XYZ for $10300
I am totally out of the stock by year end. Can I record the 2 transactions seperatly, or do I have to record it as one transaction with an adjusted cost basis ($500 loss plus the second purchase of $10000 for a cost basis of $10500)??
Either way its a $200 capital loss.
Also, what if the same senario occurs except I also have a seperate long term hold position in the same stock?
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