Is that possible to owe more tax than your profit with wash sale?
Apr 25, 2021
6 Comments
Hi,
Is that possible to owe more than than your profit in any year due to wash sale?
I heard for wash sale, IRS don’t count the loss but will count the profit, would that blow up the tax owed with actually not much profit?
I heard people saying this, which I really suspect is not true, wash sale should simply be the same as you didn’t sell it, right? (Except for the long term holding of fox), so the loss won’t be counted.
Thanks.
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