Burned on TSLA Put, please help me understand wash sale rule

[Turveyd]

Selling puts
Stock at record high
Lost $10k

I don’t understand

Pull back, Puts gained value badly and hit SL I guess at some stage.

Those are closed trades so value to pay tax on = -$10K

So got to have a +$16K trade still open, if you don't close it this year then zero tax to pay, but closing it next year then tax to pay on 16K not 6K, so close and reopen ??

Spread / Comm's cost make that worth while ??

 

[alexray828]

I think you should consult a professional for tax advices, try upwork.com.
But how come your are selling a put and have losses when the stock railing like crazy? maybe buying another put will reduce you losses?

 

[Sig]

I think you should consult a professional for tax advices, try upwork.com.
But how come your are selling a put and have losses when the stock railing like crazy? maybe buying another put will reduce you losses?

While I agree that consulting a tax professional is very wise, using upwork for tax advise sounds like an especially horrible idea!