The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Twist on the wash sale rule||Date: 11/13/1999 10:24 AM|
|Author: dvdre||Number: 21069 of 121061|
I'm sure this has been answered before,
but I couldn't find the question in the last
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
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