Seeking Alpha
  • sean.parmelee
    Tax question about wash sales. According to my 1099-B from TradeKing, when you adjust the cost basis of a subsequent purchase after a wash
    3/15/12
    Reply (9)
    • sean.parmelee: sale, you add to the actual share price the amount of the wash loss divided by the number of shares sold. This seems completely wrong to me.
      3/15/12
    • sean.parmelee: I think you should add to the actual share price the amount of the wash loss divided by the number of shares BEING BOUGHT THE SECOND TIME.
      3/15/12
    • sean.parmelee: Otherwise, if I sell 1000 shares for a loss, then immediately buy only 1 share and sell it, I'm dividing the wash loss by 1000 and then
      3/15/12
    • sean.parmelee: adding that to the price on only the one share. Shouldn't you divide the wash loss by just the 1 share when determining the new cost basis?
      3/15/12
    • sean.parmelee: It makes a HUGE difference which way you figure it, and I want to do it the correct way. TradeKing seems to suck enough to make this kind of
      3/15/12
    • sean.parmelee: mistake.
      3/15/12
    • Husky Financial: they do. I used TradeKing for a few months early last year and when I printed out my 1099 the numbers were all out of whack
      3/15/12
    • sean.parmelee: Did you have to adjust the wash sales?
      3/15/12
    • Husky Financial: i printed out my capital gains and losses &calculated it myself, along with the capital gains i had from TDAmeritrade. Tradeking is dogshit
      3/15/12