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.
- For e.g. if I sell Amazon stock & buy Apple or Microsoft or Google & vice versa? That shouldn’t be a wash sale.
- Adobe / EngmmiksjYou 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 91
- 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?