Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Author: bnoble100 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: sell(time required?)buy =Capital loss Date: 4/14/2001 12:37 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
is there a minimum amount of time you must sell and then be out of a stock before buying it back in order for the IRS to allow you to report it as a (short term) capital loss on schedule D ?
* I sold and rebought 4 positions last Dec to generate sell records showing some losses for the year, can I use them ?
Print the post Back To Top
Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 50261 of 121585
Subject: Re: sell(time required?)buy =Capital loss Date: 4/14/2001 9:07 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
is there a minimum amount of time you must sell and then be out of a stock before buying it back in order for the IRS to allow you to report it as a (short term) capital loss on schedule D ?

If you buy the same stock within 30 days before or after a sale for a loss, you cannot recognize the loss, but have to add it to your basis of the "replacement" stock.

* I sold and rebought 4 positions last Dec to generate sell records showing some losses for the year, can I use them ?

Probably not. "Paper" losses are the reason the wash sale rule exists. See Publication 550.

Phil Marti
VITA Volunteer

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Advertisement