SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : iVillage (IVIL)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Carragher who wrote (524)1/23/2000 1:00:00 AM
From: P314159d  Read Replies (2) of 598
 
Sounds like a tax attorney should know, might be wrong but I would n't trust one phone call to IRS. They give false info 25% of the time according to some study I read last year. But don't believe me either, since it is YOUR money and YOUR return. I was just using this segment of Pub 550 as my guide.

"Wash Sales

You cannot deduct losses from sales or trades of stock or securities in a wash sale.

A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:

1.Buy substantially identical stock or securities, 2.Acquire substantially identical stock or securities in a fully taxable trade, or 3.Acquire a contract or option to buy substantially identical stock or securities.

If you sell stock and your spouse or a corporation you control buys substantially identical stock, you also have a wash sale. "

To me if it applies to spouse or corporate accounts, it should apply to your own accounts, but maybe IRA is different.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News