Wash Sale Deferred Loss, how to recoup

Discussion in 'Taxes and Accounting' started by andyf, Oct 17, 2019.

  1. Been a while since I was involved in this, but I believe you can "adjust your cost basis" in a future transaction... doesn't have to be in LYFT.

    The wash sales rules are an accounting pain in the neck with little financial consequence beyond moving tax from one year to the next.... the rules should be abolished.

    Seek pro accounting help. Worst case scenario is that you get to carry your losses forward and write them off against income @ $3,000/year.
     
    #11     Oct 18, 2019