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Selling stock question.
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 688091" data-attributes="member: 12570"><p>A wash sale (not to be confused with a wash trade) is a sale of a security (stock, bonds, options) at a loss and repurchasing the same or substantially identical stock soon afterwards. The idea is to make an unrealised loss claimable as a tax deduction, by offsetting against other capital gains in the current or future tax years. The security is repurchased in the hope that it will recover its previous value.</p><p></p><p>Please correct me if I am wrong but I believe it is 30 days.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 688091, member: 12570"] A wash sale (not to be confused with a wash trade) is a sale of a security (stock, bonds, options) at a loss and repurchasing the same or substantially identical stock soon afterwards. The idea is to make an unrealised loss claimable as a tax deduction, by offsetting against other capital gains in the current or future tax years. The security is repurchased in the hope that it will recover its previous value. Please correct me if I am wrong but I believe it is 30 days. [/QUOTE]
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