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Get your taxes done using TurboTax
when you have a wash sale the loss is disallowed (IRC 1091) and it is added to the tax basis of the substantially identical securities (SIS) that created the wash sale (exception: no adjustment if the SII are purchased in an IRA). Otherwise selling the SIS and not purchasing SIS in the 60 day window results in recognition of that disallowed loss.
‎February 17, 2024
10:37 AM