wash sale


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wash sale

n.
The sale and repurchase of a security within a short period of time, especially in order to realize a loss that can be deducted from taxable income.

wash sale

n
(Stock Exchange) US the illegal stock-exchange practice of buying and selling the same securities at an inflated price through a colluding broker to give the impression that the security has a strong market
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Students are also required to calculate tax basis of shares held after the occurrence of the wash sale. Students receive an Excel template to complete this case.
A capital loss won't count for this year if you buy back the relinquished assets within 30 days of the sale in what is known as a wash sale. However, you can buy a similar asset if you wish.
The wash sale rule does not apply to cryptocurrency.
If they ignore this, they may be ineligible to claim the loss due to the wash sale rule.
Losses in floating NAV MMFs will be exempt from "wash sale" rules.
De minimis losses from a "wash sale" of certain money market fund shares would be treated as normal losses in specified circumstance under a proposed revenue procedure described in IRS Notice 2013-48, issued July 3.
Quick directed trading, avoidance of wash sale violations, and the ability to select, determine, and minimize long-term taxation using optimization features are included in additional functionalities.
Accordingly, this Note will analyze the proper taxation with respect to the Wash Sale Rule (26 U.S.C.
Just turn some unrealized gains and losses into realized gains and losses--for the purpose of lowering your tax bill--and put your money right back in the market (but beware of "Wash Sale" rules).
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.
The "wash sale" rule prohibits the recognition of loss where substantially identical securities are bought and sold within a 61-day period (30 days before or 30 days after the sale).
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.