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The way the wash loss rule is enforced makes absolutely zero sense sometimes. I get the need for it, but it's enforced in situations where it shouldn't be.
I bought five different lots of BNGO over the last three months. I sold all five at once a couple weeks ago. The first lot was at a loss, but the rest for profit which total well exceeded the one lot sold at a loss.
Today I decided to buy back in because I think it's going to run again soon, even higher than it did last time. My purchase through Fidelity triggered a wash loss and raised my cost/share enough to immediately put me almost $200 in the hole.
The whole point of the rule is so people cant manipulate stock losses for tax benefits. I couldn't claim the one lot sold at a loss for a tax benefit even if I wanted to because I made so much more on the rest, profiting big overall. But I still got penalized. Am I the only one who thinks this is ridiculous?
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