Per IRS Publication 550, You cannot deduct losses from sales or trades of stock or securities in a wash sale.A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:Buy substantially identical stock or securities,Acquire substantially identical stock or securities in a fully taxable trade,Acquire a contract or option to buy substantially identical stock or securities, orAcquire substantially identical stock for your individual retirement account (IRA) or Roth IRA.This means that the wash sale rules are activated when you buy, AND THEN BUY within the time window.If I understand your fact situation correctly, you already own both the short and long positions of this company's stock. If so, you are simply selling during the time window, there are no purchases.If so, the wash sale rules do not apply.Note that stocks and options can be considered substantially identical.Hope I got the fact situation correct.Bobwww.taxpreparerlearningsystems.com
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 Ra