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Investors & landlords
There is no penalty from a tax perspective. However, as you mentioned that you sold it for a loss, you may want to be aware of the Wash Sale Rule. Wash Sale Rule comes into effect when you sell or trade a security at a loss and within 30 says before or after this sale, you buy a "substantially identical" or same stock or acquire a contract or option. If you do this, you will not be able to deduct a capital loss on this sale.
March 13, 2022
3:46 PM
663 Views