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
Add your own answers!
Ask a Question
Get help from others!
Recent Answers
- Peter Machado on Why fry rice before boiling?
- Joshua Engel on Why fry rice before boiling?
- Lex on Does Google Analytics track 404 page responses as valid page views?
- Jon Church on Why fry rice before boiling?
- haakon.io on Why fry rice before boiling?
Recent Questions
- How can I transform graph image into a tikzpicture LaTeX code?
- How Do I Get The Ifruit App Off Of Gta 5 / Grand Theft Auto 5
- Iv’e designed a space elevator using a series of lasers. do you know anybody i could submit the designs too that could manufacture the concept and put it to use
- Need help finding a book. Female OP protagonist, magic
- Why is the WWF pending games (“Your turn”) area replaced w/ a column of “Bonus & Reward”gift boxes?