What is the extent a Wash Sale affects a stock?
What I mean by this is, if I sold 65 shares of a certain stock, I know that if I was to immediately rebuy 65 shares the loss is supposed to add on to my new cost basis for the new sale. I have a couple questions:
1. Does my platform (Fidelity) add this loss to my cost basis for the new purchase automatically or do I need to enter this information somewhere on the app or my taxes?
2. If I rebuy the stock (at a higher price than I sold) does it disallow me from ever taking a loss on that amount of shares of the stock or is the loss added to the cost basis and I can now sell the stock for a loss if it goes down?
3. Does it disallow me from taking a loss on the stock for the whole year (read this somewhere) even if I buy some MORE and sell some MORE 6 months after the wash sale is commited.
All your help is much appreciated!