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Sunday, August 13, 2017 3:53:50 PM
For example, the amount of your wash sale loss is rolled forward and added to the cost basis of the next time you buy that same stock. So, if you had a gain the second time you sold that stock, the gain would be adjusted down by the amount of your initial wash sale (because the cost basis was increased).
(Sidenote: I used to be with Ameritrade (now w/ E*Trade). At my level at Ameritrade, they provided free Gainskeeper software which was a huge time saver to prepare my Sch D w/ wash sales. But back in the day 1998-2003 I used to do the wash sale carry forwards manually on a spreadsheet. It used to take me 2 days to do. What a waste of time that was lol)
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