Wash sell issue. I’m a bit confused new to trading. Question is do I pay taxes on that disallowed as profit?
Personal Finance & Money Asked on October 1, 2021
Do I pay taxes on only the $6000 or on both the 1.2mill and the 6000? USA
One Answer
The disallowed wash sale losses are netted against your "raw" gain or loss (proceeds minus basis) to give your taxable gain or loss. This has already been done for you in the "Gain or Loss" column, so your taxable capital gain is the $6k.
Answered by nanoman on October 1, 2021
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