To anyone: Wash-sale rule question...
I've looked this up at least 2 times (and discussed with others), and thought I had it down....but, then, every time I pick up a magazine, see someone on TV...they seem to get it wrong (or incomplete)....would appreciate any help...
My understanding is that you can indeed "buy" a stock back within 30 days of sale, and that you still can get the tax benefit (loss) from that original sale (even if you buy the stock back within 30 days), but that tax "benefit" is basically "shifted" onto the new shares that you buy, and will not be realised until that buy/sell transaction is complete...of course, if you buy/sell a stock (let's say at a loss) this year, buy it back within 30 days of sale (this year), and keep until after Jan. 1..of course, you would not get benefit from that tax "loss" (on the original sale) this year, but it would be shifted until if/when you dispose of the stock in a future period...
(To explain my confusion: I always hear tax accountants/planners, etc ..go on TV and say, "you CAN NOT buy back the stock within 30 days and/or if you do buy it back, you lose the tax "benefit" from the sale, hence the "wash-sale" rule......that's incomplete and wrong, no?
TIA.... |
