Is my total loss around 7k or 16k? Why is deferred loss not considered for total gain ? Pls help me understand TC:110k Yoe:1
Wash sale losses are disallowed. You can add them into cost basis into the next purchase of same stock though.
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7k. Deferred loss is due to wash sale, your cost basis will be adjusted next time buy/sell that entity
Is cost basis same as price paid ?
Under normal circumstances yes. But say in your case if you buy the same stock which has deferred loss, your new cost basis is purchase price plus your deferred loss for that stock.