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#4
03-31-2006, 11:12 AM
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 Re: Yet another WASH question. "Jerohm" <jDrEmLoEhTrE[at]snet.net> wrote: - quote - > If I sell 5000 shares of company XYZ at a loss and
You have a wash sale on 4,000 shares, and can take the loss> repurchase 4000 shares within the 30 (or is that 31) days > WASH window, do the 1000 shares still qualify to be declared > as a loss? If NOT how does this affect the basis ... namely > if you had MORE than 5000 shares to start with. on the other 1,000 shares. The disallowed loss gets added to the cost basis of the 4000 new shares. -- Barry Margolin, barmar[at]alum.mit.edu Arlington, MA *** PLEASE don't copy me on replies, I'll read them in the group *** << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#3
03-31-2006, 10:31 AM
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| Re: Yet another WASH question. Only the repurchased number of shares create a wash sale in that amount of shares that were sold. The other $1,000 are not affected and are not wash sale shares. ed << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#2
03-31-2006, 10:30 AM
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| Re: Yet another WASH question. Jerohm wrote: - quote - > If I sell 5000 shares of company XYZ at a loss and
In a wash sale situation (purchase replacement shares within> repurchase 4000 shares within the 30 (or is that 31) days > WASH window, do the 1000 shares still qualify to be declared > as a loss? If NOT how does this affect the basis ... namely > if you had MORE than 5000 shares to start with. 30 days before or after date of sale) you allocate the disallowed loss amount on a share-by-share basis. Therefore, the loss from 4000 shares sold will be added to the cost basis of the 4000 replacement shares. The remaining loss (on 1000 shares) is claimable on your Schedule D. If the 5000 shares sold were purchased at different time (and have different cost basis values) use FIFO to make the allocation. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
03-31-2006, 10:11 AM
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| Re: Yet another WASH question. "Jerohm" <jDrEmLoEhTrE[at]snet.net> writes: - quote - > If I sell 5000 shares of company XYZ at a loss and
It's 61 days total. 30 days before the day of the sale,> repurchase 4000 shares within the 30 (or is that 31) days > WASH window, the day of the sale, and 30 days after the day of the sale. - quote - > do the 1000 shares still qualify to be declared
Yes, they do.> as a loss? -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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03-31-2006, 10:11 AM
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| Re: Yet another WASH question. "Jerohm" <jDrEmLoEhTrE[at]snet.net> wrote: - quote - > If I sell 5000 shares of company XYZ at a loss and
Yes. See Publication 550.> repurchase 4000 shares within the 30 (or is that 31) days > WASH window, do the 1000 shares still qualify to be declared > as a loss? -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
03-30-2006, 09:19 AM
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| Yet another WASH question. If I sell 5000 shares of company XYZ at a loss and repurchase 4000 shares within the 30 (or is that 31) days WASH window, do the 1000 shares still qualify to be declared as a loss? If NOT how does this affect the basis ... namely if you had MORE than 5000 shares to start with. Thank You. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| question, wash |
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