Capital Gains & Losses
What is a Wash Sale ?
A wash sale occurs if you sell stock or securities at a loss, and within 30 days before or after that sale, you buy or acquire (in a fully taxable trade or enter into a contract to acquire substantially) identical stock or securities. The deduction for the wash sale loss will not be allowed, and the basis of the stock will be increased by the amount of the previously disallowed loss.
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