|
#3
12-20-2004, 09:09 AM
| |||
| |||
 Re: Wash Rule ? "MedRxman" <medrxman[at]yahoo.com> writes: - quote - > Stock "X" owned for 3 years has fallen and I double up and
The 30 day periods that apply are before and after the loss> hold the new purchase for 31 days. > Now I also want to buy more and sell the original shares for > a tax loss. Will this avoid the wash rule. sale. What you've done in the past doesn't matter. If you want to sell and buy more, you have to wait on the buy. Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#2
12-20-2004, 08:50 AM
| |||
| |||
| Re: Wash Rule ? MedRxman <medrxman[at]yahoo.com> wrote: - quote - > Stock "X" owned for 3 years has fallen and I double up and
Yes.> hold the new purchase for 31 days. > Now I also want to buy more and sell the original shares for > a tax loss. Will this avoid the wash rule. "Doubling up" is the technique, as you have correctly named it, of buying the same number of shares you wish to sell at a loss, then waiting 31 days and selling for a loss. That sale is not a wash sale. Of course, during those 31 days the price might have fallen drastically, or the stock might have increased so much there is no loss to be had :^) The 31 days is considered sufficient risk that you no longer have a wash sale. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
12-20-2004, 08:12 AM
| |||
| |||
| Re: Wash Rule ? - quote - > Stock "X" owned for 3 years has fallen and I double up and
Not if you buy *any* additional shares within 30 days either> hold the new purchase for 31 days. > Now I also want to buy more and sell the original shares for > a tax loss. Will this avoid the wash rule. side of the sale. Ira Smilovitz << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
12-20-2004, 07:53 AM
| |||
| |||
| Re: Wash Rule ? "MedRxman" <medrxman[at]yahoo.com> wrote: - quote - > Stock "X" owned for 3 years has fallen and I double up and
If the sale and new purchase are within 30 days of each> hold the new purchase for 31 days. > Now I also want to buy more and sell the original shares for > a tax loss. Will this avoid the wash rule. other, you'll have a wash sale. However, the shares that were purchased 31 days earlier will not be involved in this. -- Barry Margolin, barmar[at]alum.mit.edu Arlington, MA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
12-13-2004, 11:23 PM
| |||
| |||
| Wash Rule ? Stock "X" owned for 3 years has fallen and I double up and hold the new purchase for 31 days. Now I also want to buy more and sell the original shares for a tax loss. Will this avoid the wash rule. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| rule, wash |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| 30-day wash rule loophole? joetaxpayer@nospam.com: I own shares of a stock (CSCO) that I'd like to sell to take the loss this year, but I'd like to hold it for the long term (at a reduced basis). I... | Taxes | 39 | 12-14-2004 01:18 AM | |
| tax benefit rule Benjamin Yazersky CPA: taxpayer makes a payment of $100 to the state on 4/15/ 2003 with the state extension of the 2002 return when the return is finalized the state... | Taxes | 4 | 08-24-2004 08:14 AM | |
| Wash rule help Hybwolf: I just recently started investing in stocks and I'm have trouble knowing if 2 groups of transactions are wash sales. Any help would be appreciated.... | Taxes | 6 | 01-28-2004 06:05 PM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
