Why brokers like E-trade/Vanguard need 45 days to send tax forms
Wonder why brokerage firms take that long to send tax forms. Don’t they have good systems?
Amazon RITT26Feb 16, 2020
There is something called wash sale.
Roku MonteCarIoFeb 16, 2020
Like the sale they have at car washes?
Oracle 2Jqi8Feb 16, 2020
"A wash sale is a transaction in which an investor seeks to maximize tax benefits by selling a losing security at the end of a calendar year so they can claim a capital loss on taxes that year. The investor's intent is likely to repurchase the security again after the start of the new year, if possible even lower than where they sold. ... The IRS uses the wash-sale rule to eliminate the incentive to arbitrarily sell and reacquire the same security around the end of the calendar years."
https://www.investopedia.com/terms/w/washsale.asp
Microsoft h.a.l.l.Feb 16, 2020
Depends on what you hold. Partnerships routinely need more time to report. And some international investments run on a different accounting calendar.
There is something called wash sale.
Like the sale they have at car washes?
"A wash sale is a transaction in which an investor seeks to maximize tax benefits by selling a losing security at the end of a calendar year so they can claim a capital loss on taxes that year. The investor's intent is likely to repurchase the security again after the start of the new year, if possible even lower than where they sold. ... The IRS uses the wash-sale rule to eliminate the incentive to arbitrarily sell and reacquire the same security around the end of the calendar years." https://www.investopedia.com/terms/w/washsale.asp