This year I bought a stock. A little while later I sold it for a profit of $12,000. The same day, I bought it back again with hopes that maybe it was going a lot higher. Well, now I've lost (if I sell) $17,000. My question is, is it a wash sale if I buy it back right away even if it was sold for a profit and not for the sake of selling for a loss for tax reasons. Also, will I have to pay any taxes on the original 12,000 since I'm planning to sell it this year and take a 17,000 loss on it. Thank you!
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat