Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I was just looking at my 1099 from Interactive Brokers, and noticed that they say I had a $120 loss disallowed due to it being a wash sale.

Here's what happened:
1300 shares long-term position
100 shares purchased 7/8/13
1400 shares sold 7/25/13 (entire position liquidated, never repurchased)

Why should the loss on 100 of the 1300 long-term shares be disallowed? Why is the wash sale rule applicable here?

I thought I knew this stuff, but it's hard to believe that a broker the size of IB could get this wrong.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.