The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Yet another Wash Sale question||Date: 7/17/2013 1:52 PM|
|Author: mekong22||Number: 118880 of 124763|
I think I know the answer to this already, but want to double check with some folks that know their tax rules better than I do.
Let's say, I made the following trades:
1/1/2011 bought 200 shares of ABC at $7
5/10/2013 bought 50 shares of ABC at $4
5/20/2013 sold 100 shares of ABC at $5
I specifically identified the 100 share sale as including the 50 share purchase from 5/10 and 50 of the shares from 2011.
Would wash sale rules not apply because I sold all of the 5/10 shares on 5/20 for a gain so I recognize the cap gains in 2013 on those. Then the additional 50 shares purchased 5/20 with the 2011 cost basis don't have any other purchases in a 30 day window so I can take the loss on those in 2013?
Let me know if I am looking at this right.
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