Posted On: 03/15/2013 10:51:17 PM
Post# of 351
The meaning and definition of Wash sale -
Purchase and sale of the same or similar security simultaneously or within a short period of time. An IRS regulation (known as the Thirty Day Wash Rule) prohibits a taxpayer from claiming a loss on the sale of an investment if that same or similar investment was purchased within 30 days before or after the sale date.
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