Posted On: 12/30/2015 4:16:11 PM
Post# of 41414
Re: JohnnyDrama21 #22001
and it is a no no
DEFINITION of 'Wash-Sale Rule'
An Internal Revenue Service (IRS) rule that prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so. A wash sale also results if an individual sells a security, and the spouse or a company controlled by the individual buys a substantially equivalent security.
DEFINITION of 'Wash-Sale Rule'
An Internal Revenue Service (IRS) rule that prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so. A wash sale also results if an individual sells a security, and the spouse or a company controlled by the individual buys a substantially equivalent security.
(0)
(0)
#OPERATIONTAKETHETRASHOUT
#REMEMBEROURFOUNDER
BLTA LONG & STRONG
#REMEMBEROURFOUNDER
BLTA LONG & STRONG
Scroll down for more posts ▼
