Wash Sale

Tableau ImTableau
Feb 9 13 Comments

Whether this will be considered wash sale?

I bought some stocks few months back and it’s under loss today - about $2000. I want to buy at least the same number of stocks next week at the current lower price. I’ll sell the same # of stocks that I originally bought few months back after buying the new set of stocks.

Considering the stock price remains relatively same, I’ll be able to claim $2000 in capital loss and saving about $500 in taxes for 2019.

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TOP 13 Comments
  • Facebook FRvp08
    Not a wash if u sell old lot after buying new stocks
    Feb 93
    • Amazon / Eng
      eisenhwr

      AmazonEng

      PRE
      Google
      eisenhwrmore
      Wrong
      Feb 9
    • Amazon / Eng
      eisenhwr

      AmazonEng

      PRE
      Google
      eisenhwrmore
      30 days **before or after**
      Feb 9
    • Facebook FRvp08
      Okay, thanks for clarifying
      Feb 9
  • Tableau ImTableau
    OP
    For e.g. if I sell Amazon stock & buy Apple or Microsoft or Google & vice versa? That shouldn’t be a wash sale.
    Feb 93
    • Adobe / Engmmiksj
      You could just look up a financial consultant in your area and call and ask. They would probably also give you a free consultation where you could ask questions like this. I did that recently where I live and got some good advice. If you don't know where to look then check out Dave Ramsey's smartvestor pros list.
      Feb 9
    • Tableau ImTableau
      OP
      Thank you for sharing.
      Feb 9
    • Salesforce 2438ez
      That would not be a wash sale. Those companies are substantially different.
      Feb 9
  • Microsoft Zret345/
    You have to wait 30 days between sale and buy of same stock, or it would be a wash.
    Feb 90
  • Tableau ImTableau
    OP
    What if I buy a similar stock? I think that’s not a wash sale. That’s how tax loss harvesting works too. Can someone help here please?
    Feb 92
    • Verizon jlTI16
      Wash Sale definition: "when an individual sells or trades a security at a loss and within 30 days before or after the sale, buys a "substantially identical" stock or security, or acquires a contract or option to do so."
      Feb 9
    • Verizon jlTI16
      That sounds like a wash sale to me
      Feb 9
  • Microsoft JackMa876
    Depends. If you are talking about ETF - you should be ok if you buy a similar ETF. You cannot take a long position by selling stock of a company and then buying calls (options) within 30 days.
    Feb 90

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