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Investors & landlords
yes. you must report the wash sales because the broker will be reporting them to the IRS. however, if you dispose of the shares causing the wash sale before year-end there's no net effect on net capital gains because the broker has increased the basis of those shares by wash sale amount. bear in mind that the holding period of the wash sale shares includes the period the original shares were held so short-term holdings can become long-term.
‎December 21, 2020
1:23 AM
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