IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Nelson Chang who wrote (814)	4/18/1999 5:50:00 PM
From: Nandu	Read Replies (3) of 1383

<<The wash sale period for any sale at a loss consists of 61 days: the day of the sale, the 30 days before the sale and the 30 days after the sale. (These are calendar days, not trading days. Count carefully!) If you want to claim your loss as a deduction, you need to avoid purchasing the same stock during the wash sale period. For a sale on March 31, the wash sale period includes all of March and April.>> By this logic, if I bought 1000 shares of XYZ on Mar 2nd, sold it at a profit on Mar 5th, then bought 1000 shares of ZYX again on Mar 20th, then sold the second lot for a loss on Mar 31st, I have to report the Mar 31st sale as a wash sale and increase the basis for the Mar 2nd purchase? What if I bought 1000 shares again on Apr 1st. Do I increase the basis for the Mar 2nd purchase or the Apr 1st purchase?

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