I wonder about the Adjustments to Cost Basis after a wash sale occur. Considering this Example 1 ( from marketwatch.com) where someone:
On 1 Dec, 2018 used an amount of money in his account to buy 100 shares of XYZ Co., for $2000 (to make it simple , let's say 1 Feb, 2019 to turn all the transactions into the same year)
On 1 Apr, 2019 he sells the shares for $1200, and incurred a loss of 800$.
On 10 Apr, 2019 he bought back 100 shares for $1300, and had a wash sale. The 800$ loss gets added to the cost basis of this transaction( and the basis becomes $2100)
Now, If on 13 Apr 2019, he sold 100 shares for $1400; I'm pretty sure that the realized Gain/Loss record of this transaction would show something like this: " XYZ Co. shares 100 , Proceeds $1400 , Cost basis $2100(adjusted), Short-term Gain/Loss -$700 ". So, even though the Gain/Loss shows a negative number, he still got an actual profit of $100 from this sale, right?