"For example, say you purchase 100 shares of XYZ for $25 per share on Feb. 10. Nine days later, on Feb. 19, XYZ drops to $22 per share and you sell your 100 shares. You have a capital loss of $3 per share, or $300, which may be tax-deductible. If on Feb. 26 you bought the same security for $22.50 per share, this would be considered a wash sale because you sold and repurchased shares of the same stock within only a few days. Without the wash sale rule, the result would be that you could possibly have a tax deduction for your loss, but you would still own the shares, which is why it's sometimes called an "artificial" loss.
With the wash sale rule in place, the loss is deferred until the replacement shares are sold. In this example, that means your $300 loss would be added to your cost basis on the shares you repurchased on Feb. 26 to get an accurate capital gain/loss figure when you sell those shares."
This is from my scottrade account regarding wash sales...... So basically if you re-purchase the same amount of shares that you sold within 30 days of selling, your losses just get added into the cost of the shares you repurchased. So basically by the end of the year, if you have no shares, then it should all be squared and my net loss that is shown should be accurate and able to be deducted.... This is what i am trying to confirm.....I apologize for my redundancy in any of this....I am not an accountant by any stretch..... but thanks for the replies.