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Financial Planning / Tax Strategies


Subject:  Twist on the wash sale rule Date:  11/13/1999  10:24 AM
Author:  dvdre Number:  21069 of 127613

I'm sure this has been answered before,
but I couldn't find the question in the last
100 posts.

I know that after you sell a stock at a loss,
you have to wait at least 30 days to buy it
back -- if you want the loss to be deductible.
Otherwise it is a wash sale.

What about if I buy the same stock, then sell
the old stock a day or two later? What are the rules
when the buy comes before the sale.


I own 100 shares of MAT with a current loss of
about $1,000. If I sell now, I can get a tax
break of more than $350 on my loss.

But I haven't given up on MAT.

I have been thinking of buying maybe 40 shares
in my new brokerage account, and selling the 100
shares in my old account (different company).

Do I have to wait 30 days between the buy and
the sell?
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