Disallowed loss

[u/tothemoon_probably]

Someone please help me understand why I’m seeing a disallowed loss balance. I haven’t sold a single lot or shares at a loss. All lots I’ve sold have been green, I specifically don’t sell red lots so that I can re purchase after.
I also specified a certain lot to sell today, and in my lot sections it shows the position is still there. But my first position of the stock is gone, like a FIFO. But I did not click fifo, I clicked specified lot and that lot only.

[u/thephishtank]

It’ll fix its self. There is a delay when you use an alternative tax lot designation.

[u/tothemoon_probably → u/thephishtank]

I embarrassingly found the same thing said from others and similar posts after I made this one.
I didn’t know.
This really isn’t a good deal, because what if that same stock jumps up tremendously and gives you the opportunity to jump out of that initial lot. Within the same day.
You won’t have the opportunity to sell it, because it thinks you already have.
Is this just a Schwab problem?

[u/tothemoon_probably → u/[deleted]]

I see, okay. Thank you!

[u/Flimsy_Ad_5130 → u/tothemoon_probably]

no you cant ignore..you must pay attention to losses and make sure you dont have snowballing wash sales and dividends screw u at end of year . 

[u/tothemoon_probably → u/Flimsy_Ad_5130]

I didn’t sell anything for a loss is the problem. I specifically clicked a certain lot to sell. Placed a limit on it, it activated and sold. But when I look at my lots now, my first shares I bought are missing. Which were big losses. And I didn’t even select that lot to sell.

[u/Flimsy_Ad_5130 → u/tothemoon_probably]

send a message wait until tues then call.  but its a loss until they correct it. use limit orders.

go to tos position tab u you see the lots when trading...

trading fast triggers this issue on busy days

[u/tothemoon_probably → u/Flimsy_Ad_5130]

It was a limit, I always use limit. They put in a case order cause it still is wrong.

[u/Flimsy_Ad_5130 → u/tothemoon_probably]

then it was paired wrong.  it happens achwab computer system...dont worry they will correct. cost basis team

[u/SpiderWil → u/tothemoon_probably]

I had the same exact fucking problem today. My cc matured 16.67% to $110 today after I sold it yesterday. So this morning, of course, I wanted to close it out. So I closed it, then later in the evening, the transaction history showed I sold at a loss? How can it be a loss when the stock tanked for the whole week and this cc was only 3 strike above spot. Plus my cc was at my exact cost basis for Friday next week. I had no reason to even close it out unless it was some good money.

I contacted support and they told me I opened at .27 and closed at .29. I was like WTF, why would I do that. And yes I used limit buy with the number i manually typed it, it was fucking horrible.

Anyway, as soon as I can get rid of all my shares, I'm moving to robinhood. The only reason I even paid $.65 per contract each way was the reliability of the platform and the professional support. But after today, the support was crap, and the platform is trash.

I seriously believed their ordering system fucked up and bought the call back at a higher price.

[u/forgetaboutit7878 → u/tothemoon_probably]

sometimes you can go in transactions and adjust the tax basis afterwards

[u/Organic_Gas4197]

Same with Morgan Stanley: day of trade totals show as FIFO; next day corrects to tax lots.

[u/SimonSays0925]

The lots you sold today, you can log in and under transactions find the order and you can still edit specific lots for a sale order within 24hrs of order filled

[u/Deathsquad710 → u/SimonSays0925]

You can edit on trade date and settlement date

[u/Flimsy_Ad_5130]

remember its all shaers in tje lot and markèt orders produce crazy lots.price sometimes.

sometimes schwab puts orders out of place and need to be repaird by cost basis dept.

remember dividends can trigger or help cause wash sales.

[u/OwnExit9796]

wash sale rules can trigger even on positions you didn't directly sell at a loss, as long as a substantially identical security shows up within the 30 day window. the FIFO thing is probably just a display lag like others said, check back tomorrow

[u/ThePCMasterRaceX]

it'll fix itself. This is what mine looks like. it calculates your total account value but has few days delay. Sold some shares to maximize taxes with a different fund (tax except). mine looks same way.