LuxSit: "Hey Roy,Let's say I own several shares of XYZ company. I purchsed the stock on 5 occasions. I made seperate purchases of 100 shares at each buy at $100, $80, $60, $40, and $20.Say the stock is selling today at $15. Could I purchase the stock today, and then sell my purchases I made at $100, $80, $60, and $40 tomorrow and claim a tax loss for doing so?"NO."Is this a legal way to get around the 30 day wash rule? What does the IRS say about buying 400 new shares of stock today, and selling 400 old shares tomorrow for the tax loss?"The IRS says that wash sales involve purchases made within 30 days before or within 30 days after the sale.Nice try, but no cigar. I also suspect that this is covered well in the FAQ. You either need to sell and wait for 30 days to expire before repurchasing, or buy replacement shares and then wait for 30 days to expire before selling the existing shares.Not Roy, but regards anyway, JAFO
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