I'm also really worried about the wash sale's rule, and I've been reading a lot of articles on it but cannot understand the implication to day traders.
[1]
Let's say, I trade AAPL in 2021:
Dec, 28: buy-then-sell at loss $100
Dec, 29: buy-then-sell with win $200
Dec, 30: buy-then-sell with win $200
For 2021, will my taxable profit $400 (2x$200 wins) or $300 (2x$200 wins minus the $100 loss)?
[2]
Let's say another example:
Dec, 28: buy-then-sell at loss $100
Jan, 2,: buy-then-sell at win $200
I presume for 2021, I cannot claim the $100 loss, because I'm still under the wash sale rule.
Any help would be appreciated.
[3]
I'm a new trader. Last year, I day trade+swing trade in my TDAmeritrade/TOS with hundreds of ticker symbols (but not understanding tax implications), and my 2021 tax document from TD shows that my wash sale is ($15,000) and my net gain is $7500, and I need to pay capital gain tax on the $7500. What I'm confused is why my wash sale is so high. Does this mean that I gained $22,500 but lost $15,000 so my net is $7500?