Buying lower when you had previously bought higher
Post# of 72447
Posted On: 10/02/2015 8:36:31 AM
Buying lower when you had previously bought higher can't possibly be counted as a short sale. Stocks bought by a brokerage are bought in street name, not your name, and even if they wanted too, they can't track a purchase to a specific account. And there would be no point in doing so because buying at a lower level within 30 days is NOT a wash sale. Only a SALE is a sale, oddly enough.
It does NOT incur any kind of tax consequences involving the wash sale rule when you buy at a lower level, unless you sold AT A LOSS from a higher level within the previous 30 days. And that is visible only in your own account, not to market makers.
It does NOT incur any kind of tax consequences involving the wash sale rule when you buy at a lower level, unless you sold AT A LOSS from a higher level within the previous 30 days. And that is visible only in your own account, not to market makers.
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