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.
Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Richard Forsythe who wrote (848)4/1/1998 2:35:00 PM
From: William G. Murray  Read Replies (2) of 5810
 
Richard,
I did not see any response to your question, however I have one of my own. Since the intent of the "wash sale rule" is to not allow taxpayers to take losses while deferring gains in the same security, would it be fair to say that the wash sale rule applies only to stocks that are held past January 1st?

If I review my records and sell prior to year end any stock in which I've suffered a loss in during that calendar year, then all my losses & profits for that security would be in that one year. (Assumes I don't re-buy any of these stocks before early February.)

Will the IRS agree? Do I need to "advise" the IRS on my return? I've checked the books, but don't really find an answer.

Thanks for any help.
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