I have an "undetermined transactions" section on my 1099-b for a sale of the entire position of a given stock in Dec 2022 and am trying to figure out how to calculate the cost basis for it (USA federal income taxes)
There had been multiple wash sales leading up to this sale, some of which go back to 2021 (but there wasn't another re-purchase after the Dec sale). I'm using LIFO for stock sales, but not sure if that maters here since the whole position was closed and wash sales tack on the holding time? Does this sound correct?
2021 - starting 200 shares 02Dec sold 100 shares, box 1g shows $500 disallowed loss 03Dec buy 100 shares 2022 19May sold 200 shares, box 1g shows $800 disallowed loss 31May buy 200 shares 19Jul sold 100 shares, box 1g shows $600 disallowed loss 22Jul buy 100 shares 16Nov buy 400 shares 13Dec sold 600 shares, No gain/loss/basis info on 1099-b
Does the 1g value in the first 2 sales essentially not mater, because each was part of the cost basis used to calculate the next loss? And then to calculate my new cost basis for the final sale I take the cost of the 400 shares bought Nov 16 + the $600 loss? I assume 200 shares of the final sale need to be listed as long term gains and the other 400 short term, but how do I split the cost basis up between them?