The wash sale
rule does not apply to cryptocurrency.
As long as the second fund does not hold the same bonds as the first fund, Doug won't have a wash sale
G2 FinTech, the tax analysis software provider for investment managers said it will add to its TaxGopher engine a reporting tool for prospective wash sale
A taxpayer can use a wash sale
to generate long-term capital gain treatment should the stock increase in value.
Rule: If you sell a stock or bond and then buy it (or something very similar) back within 30 days, IRS may take away any tax deduction you attempt to take: the "wash sale
It also includes guidance on how to convert paper losses into realized capital losses without triggering the wash sale
rule and how to use the charitable contribution provisions to mitigate the current market's negative effects.
A wash sale
results in the disallowance of a loss incurred from the sale of a security if a substantially identical security is acquired within a 61 -day period beginning 30 days before the sale and ending 30 days after the sale.
Because of automatic reinvestment, it is possible that a sale of fund shares at a loss can result in an unintended wash sale
Watch for Wash Sales
-- Under the Wash Sale
Rule, investors who sell stock at a loss, but then buy a substantially identical security within 30 days before or after the sale, are not allowed to recognize that loss for tax purposes.
If the company is aware of the wash sale
and seeks a compensation expense deduction, it will feel obligated to report W-2 income to the employee to secure its deduction [Reg.
The wash sale
rule is grounded in the notion that losses should not be deductible in instances where, due to a prompt reacquisition of substantially, identical property, the taxpayer has not sufficiently altered his or her economic position.
GainsKeeper's enhanced short sale tax functionality automates the proper tax treatment of short sales, including special holding period rules and wash sale