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How do I handle the accounting of my wash sales?

I bought AXP in 3 different orders, all purchased within 5 days of each other:

  • 100 @ 122
  • 100 @ 100
  • 100 @ 76

I sold all 300 @ 102, and then repurchased the 300 shares the very next day @ 96.00.

Per IRS reporting, how do I calculate this as far as loss or gain?

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Is there a “Best” Software to keep track of Wash sales?

Gainskeeper and Tradelog are two well known professional tax accounting software packages. When I used to trade very heavily (100's of wash sales), I used Tradelog. It did a better job reconciling trades than my broker did. I no longer use it and they are under new management so this isn't a current evaluation. Programs like these tend to offer 30 day trials and and they offer scaled subscription pricing, depending how many trades you do in a year. You don't need any of these unless you're a frequent flier.

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