Wednesday, January 4, 2012

Sell stock for a profit, then buy it back a few days later - Wash Sale?

No, that wouldn't be a wash sale on your loss. The first two transactions resulted in a profit. The third and fourth transactions resulted in a loss. If you want to claim the loss then you can't buy the stock again for thirty days. If you buy the stock within thirty days you can't claim the loss on your taxes because it is a wash sale. So, it will be a wash sale if you buy back into the stock before or on May 2nd. After May 2nd you can play it again.

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