if you buy and sell a stock for a profit,then buy it again but sell for a loss (all withinthe time limits) Does this have any wash sale implications?
Regarding #16204, no it doesn't. You sell stock at a profit, you pay tax on the gain. You buy again and lose, you may be able to offset that loss against previous gains and against ordinary income, depending on the amounts.Take a peek at the Tax FAQ's, and also at your Form 1040 Instructions, Page D-3.
if you buy and sell a stock for a profit, then buy it again but sell for a loss (all within the time limits) Does this have any wash sale implications? Yes. It is not a wash sale. To be a wash sale you must still have a position in a stock that you did, or will, sell other shares at a loss, within 30 days, at the end of the year. ( I think I covered that in a minimum of words. Did I forget something?) Ed
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