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Investors & landlords
@TheOne4 As long as "all gain or loss" from the disposition is realized, then any suspended losses can be used to offset any of your income. So the only way a repurchase would affect that is if there was a loss that triggered wash sale rules: in that case, "all gain or loss" is NOT realized (because of the wash sale) and you wouldn't have a complete disposition.
Bottom line: repurchase after the 31 day wash sale window closes and the partnership starts over.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎January 22, 2024
10:42 PM
536 Views