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Wash sales rules
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If in doubt, please send a new question or ask for an update.
Q: Does the "wash sale" rule
prevent me from buying a stock back right after I sell it?
A: No, you may buy and sell a
stock as often as you wish. For tax reporting purposes, however, this
quick sale/buy back is not counted so the tax is calculated as if you
had continuously owned the stock. This rule comes into question more
often at the end of the year when investors try to realize
tax-deductible losses or lock in low long term capital gains rates
without really altering the makeup of their investment portfolio.
Summary
More resources:
Instructions for IRS Form 1040 Schedule D
