Articles
Don’t Be Hung Out to Dry By Wash Sales.
Filed under: — site admin @ 1:52 pm on 9/10/2004 .
Don’t Be Hung Out to Dry By Wash Sales - The Internal Revenue Service loves to tax capital gains, but they are just as diligent to disallow capital losses that might offset those lucrative cash cows. Case in point: the wash rule.The wash rule prohibits traders and investors from claiming a capital loss if they buy replacement stock 30 days before or after the sale of a security. If you do so, you can’t deduct the loss; it is added instead to the basis of your replacement stock for tax purposes. Read on…… Don’t Be Hung Out to Dry By Wash Sales
Comments
No comments yet.
RSS feed for comments on this post.
Leave a comment
Sorry, the comment form is closed at this time.
