Correct. But to be more clear, it's a net year end LOSS & wash, for that security.
#1
For instance you make $1,000 in GOOG on Jan 10, 2005, then trade it, every day that year, up thru Dec 31st, 2005. You lost ..... $-35,000 net doing it.
Net loss is -$34,000 (+1000, -35000= -34,000)...