The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/the-big-catch-for-someone-with-lots-of-trades-is-34768182.aspx

Subject:  Re: federal income tax questions Date:  3/3/2021  2:24 PM
Author:  vkg Number:  132141 of 132640

The big catch for someone with lots of trades is wash sales. If you have wash sales, you can't use this shortcut.

If within the same broker, why? At least Fidelity, handled the small wash sale I had accidently created. They altered the cost basis for both items involved. There was a total for wash sales but that was only slightly confusing informational.
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us