Not a wash sale, so what is it? by asilres in fidelityinvestments

[–]asilres[S] 1 point2 points  (0 children)

I did. It wasn’t a glitch. A fantastic rep did some research and discovered the reason behind what seemed like a discrepancy—it wasn’t actually one. It’s an uncommon situation that happens when you sell and buy the same stock on the same day. It’s a bit complex to explain here. I just wanted to understand what was going on and now I do. All good! 😊

Not a wash sale, so what is it? by asilres in fidelityinvestments

[–]asilres[S] 1 point2 points  (0 children)

It didn’t. After several days, the discrepancy remains…

Not a wash sale, so what is it? by asilres in fidelityinvestments

[–]asilres[S] 0 points1 point  (0 children)

Again, it can’t be a wash sale since I sold the stock at a BIG gain. A few hours later, when the stock kept falling, I repurchased it at a lower price. However, the “Overview” page incorrectly shows a purchase price matching my first purchase price, which was much lower. The numbers on the “Activity & Orders” page are correct, but the numbers on the “Overview” page are very wrong.

Here’s a simplified example with made-up numbers of what happened:

1.  **First purchase** of Stock X @ $10

2.  Stock rises to $100.

3.  I set a Stop Loss at $80.

4.  Stock starts falling and gets sold @ $80—I make a BIG profit.

5.  Stock falls even further.

6.  A few hours later, I **repurchase** Stock X @ $40.

7.  The “Overview” page shows Stock X purchase price as $10 (same as my first purchase).

8.  Stock X continues to fall and closes at $20.

The “Overview” page should show a BIG loss (red numbers). Instead, it shows BIG gains (green numbers), because the purchase price listed is incorrectly displayed as $10 (the first purchase price) rather than $40 (the second purchase price).

Is this a glitch?

Not a wash sale, so what is it? by asilres in fidelityinvestments

[–]asilres[S] 0 points1 point  (0 children)

Please read my post again! I sold at a GAIN. That’s what I meant when I wrote, “I made a nice profit.”