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Financial Planning / Tax Strategies


Subject:  Re: tax question Date:  8/14/2001  6:12 PM
Author:  edcosoft Number:  53343 of 127616

If I have bought 2 stocks A and B at prices 100$ each.
Say I sell A in one month's time (same FY) at 90$ -- loss = 10$.
Then I sell B after a couple of years at 110$.
Can I offset the loss realised from my earlier transaction ? "

If you sold A within 30 days of buying B you have a Wash Sale and the loss is not allowed but rather it is added to the basis of B. You effectively offset the loss when you sell B. ed
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