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I've seen several posts concerning the subject, but I am having a hard time relating it to my situation.

Through several attempts to daytrade (very unFoolish), I lost $1560.70 trading AOL.

Here are my exact trades.

BUY 20 ($2921.20)
BUY 20 ($3243.70)
SELL 40 ($5024.88)

BUY 20 ($2752.45)
SELL 30 ($3034.94)

BUY 20 ($4798.08)
SELL 20 ($4094.91)

All of these trades occurred within a month's time (in April)

Now... several questions.

1. Do I need to break each sell and purchase into separate lots? Can I just say I bought X amount of AOL and sold Y amount, realizing a $1560.70 loss?

2. I believe that the wash sale does not apply since I was out of my positions within 30 days of year end. Do I still need to list them under the wash sale rule? I am using Turbo Tax and it has not been helpful.

3. I THINK I need to adjust my cost basis, but I have no understanding of that at all. Any help?

4. Since I bought in two lots (20 and 20) and sold in one (40) (in the example above), how do I report that?

I am sorry if these are very basic questions. I am getting more and more confused when I try to enter these in Turbo Tax.

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